ABSTRACT
Inflation as a worldwide phenomenon is a popular topic for discussion and lament, even in the daily press, weeklies, and bar-rooms. Yet its origins and causes, the topic assigned to us for this conference, are the subject of much debate - especially in those bar-rooms where economists meet. The reader should be warned at the outset that this paper does not pretend to settle the issue. It only sketches one answer, but we believe a largely correct one, to the ambitious questions assigned to us.
