Inflation and Inflationism

Abstract

Probably no idea has been more widely propagated during the last few years than that a way out of the depression in Canada could be easily won by a thoroughgoing dose of inflation. In parts of western Canada the pursuit of cheap money has become not merely a cult but, with many of the characteristics of mass hysteria, has all the intolerance of an evangelical movement; anyone who ventures to disagree with the devotees of social credit is regarded by them as being either stone blind to the master evil in our present economic situation or woefully recreant to the obligations of human society. There are, however, many people in Canada, not associated with the social credit groups, who believe that the way to recovery lies along the road of inflation. The precise form that inflation should take differs from person to person but the general idea is in the air and is worthy of examination and, if possible, of some clarification.