Open AccessSecular Inflation by Friedrich-Karl Lage. D. Reidel Publishing Company, Dordrecht, Holland, 1961.
Author(s) -
Mohammed Asaduzzaman
Publication year - 1970
Publication title -
pakistan development review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.154
H-Index - 26
ISSN - 0030-9729
DOI - 10.30541/v10i2pp.283-285
Subject(s) - inflation (cosmology) , economics , secular variation , keynesian economics , depreciation (economics) , scope (computer science) , publishing , economic history , demography , sociology , neoclassical economics , law , political science , physics , theoretical physics , profit (economics) , capital formation , financial capital , computer science , programming language
The main theme of the book under review is an inquiry into thenature and canses of secular inflation. In defining the term 'secular',the author has followed Simon Kuznets who defined it as an irreversible,continuous movement over a period 'greater than the average duration' ofan economic cycle. 'Secular inflation', hence, may include every type ofinflation as long as it extends over a secular period and in effectresults into an irreversible money depreciation. As a measure andsymptom of secular inflation, Lage, like many others, suggests pricelevels and cost-of-living indices. But due to the lack of accuratefigures, a search for a direct proof of the existence and the scope ofsecular inflation is not always successful.