ABSTRACT

According to its received definition, inflation emerges when an excessive mass of money “chases” the mass of available real goods. Inflation is manifested when the money-form contains a “body” or a product smaller than itself: then the product is “floating” in its monetary cloth. Money would have a specific mass, which can be compared to the mass of goods, of produced services, and of financial claims. Even capital-goods are “introduced” into money: this is done, as for wage-goods, in the emission of nominal wages. The inflationary gaps being manifested in the economies are all due to empty emissions that, by definition, deposit a “money without product” in the continuum. Consequently, economic science encompasses only two fundamental monetary theories, the quantitative one and the quantum one. The quantitative theory claims to establish the network of relations of exchange between the money-number and the undefinable mass of real goods.