IDEAS home Printed from https://ideas.repec.org/p/arx/papers/2301.03063.html
   My bibliography  Save this paper

Inflation and Value Creation: An Economic and Philosophic Investigation

Author

Listed:
  • Gennady Shkliarevsky

Abstract

The subject of this study is inflation, a problem that has plagued America and the world over the last several decades. Despite a rich trove of scholarly studies and a wide range of tools developed to deal with inflation, we are nowhere near a solution of this problem. We are now in the middle of the inflation that threatens to become a stagflation or even a full recession; and we have no idea what to prevent this outcome. This investigation explores the real source of inflation. Tracing the problem of inflation to production, it finds that inflation is not a phenomenon intrinsic to economy; rather, it is a result of inefficiencies and waste in our economy. The investigation leads to a conclusion that the solution of the problem of inflation is in achieving full efficiency in production. Our economic production is a result of the evolution that is propelled by the process of creation. In order to end economic inefficiencies, we should model our economic practice on the process that preceded production and has led to its emergence. In addition, the study will outline ways in which our economic theory and practice must be changed to achieve full efficiency of our production. Finally, the study provides a critical overview of the current theories of inflation and remedies that are proposed to deal with it.

Suggested Citation

  • Gennady Shkliarevsky, 2023. "Inflation and Value Creation: An Economic and Philosophic Investigation," Papers 2301.03063, arXiv.org.
  • Handle: RePEc:arx:papers:2301.03063
    as

    Download full text from publisher

    File URL: http://arxiv.org/pdf/2301.03063
    File Function: Latest version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Gennady Shkliarevsky, 2022. "Infinite Growth: A Curse or a Blessing?," Papers 2201.09806, arXiv.org.
    2. Jung, Woo S & Marshall, Peyton J, 1986. "Inflation and Economic Growth: Some International Evidence on Structuralist and Distortionist Positions: A Note," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 18(2), pages 227-232, May.
    3. James Mirrlees, 2010. "Are recessions inevitable?," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 15(4), pages 341-348.
    4. Hrushikesh Mallick, 2008. "Inflation and growth dynamics: the Indian experience," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 11(3), pages 163-172.
    5. Hrushikesh Mallick, 2008. "Inflation and growth dynamics: the Indian experience," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 11(3), pages 163-172.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Muhammad Akram & Syed Shabihul Hassan & Muhammad Farhan & Hassan Mobeen Alam, 2011. "Empirical Analysis of Determinants of Economic Growth: Evidence from SAARC Countries," Journal of Economics and Behavioral Studies, AMH International, vol. 3(2), pages 115-121.
    2. Satya Paul & Colm Kearney & Kabir Chowdhury, 1997. "Inflation and economic growth: a multi-country empirical analysis," Applied Economics, Taylor & Francis Journals, vol. 29(10), pages 1387-1401.
    3. Oziengbe Scott Aigheyisi, 2021. "Threshold Effects of Import Dependence of Economic Growth in Nigeria," ACTA VSFS, University of Finance and Administration, vol. 15(2), pages 198-219.
    4. Ionuţ JIANU & Laura-Mădălina PÎRȘCOVEANU & Maria-Daniela TUDORACHE, 2017. "The impact of financial risks on economic growth in EU-15," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(1(610), S), pages 23-44, Spring.
    5. Madhu Sehrawat & A.K. Giri, 2017. "A Sectoral Analysis of the Role of Stock Market Development on Economic Growth: Empirical Evidence from Indian Economy," Global Business Review, International Management Institute, vol. 18(4), pages 911-923, August.
    6. Bruno, Michael & Easterly, William, 1998. "Inflation crises and long-run growth," Journal of Monetary Economics, Elsevier, vol. 41(1), pages 3-26, February.
    7. Hamidreza Ghorbani Dastgerdi, 2020. "Inflation Theories and Inflation Persistence in Iran," Zagreb International Review of Economics and Business, Faculty of Economics and Business, University of Zagreb, vol. 23(2), pages 1-20, November.
    8. Hakan Yilmazkuday, 2022. "Inflation and growth: the role of institutions," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 46(1), pages 167-187, January.
    9. Williams Ohemeng & Elvis Kwame Agyapong & Kenneth Ofori-Boateng, 2021. "Exchange rate and inflation dynamics: does the month or quarter of the year matter?," SN Business & Economics, Springer, vol. 1(6), pages 1-24, June.
    10. Ionuţ JIANU & Laura-Mădălina PÎRȘCOVEANU & Maria-Daniela TUDORACHE, 2017. "The impact of financial risks on economic growth in EU-15," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(1(610), S), pages 23-44, Spring.
    11. Rasha Istaiteyeh & Farah Najem, 2023. "GDP and Inflation: New Story from a Developing World: Case of Jordan," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 13(6), pages 1-2.
    12. Nawalage S. Cooray, 2013. "An Empirical Analysis of Inflation-Growth Nexus in Developing Countries: The Case of Sri Lanka," Working Papers EMS_2013_21, Research Institute, International University of Japan.
    13. Zia Uddin Chowdhury Hayat & Kaliappa P. Kalirajan, 2009. "Is There a Threshold Level of Inflation for Bangladesh?," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 3(1), pages 1-20, February.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:arx:papers:2301.03063. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: arXiv administrators (email available below). General contact details of provider: http://arxiv.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.