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 Definition a theory that explains inflation as the inevitable consequence of an increase in the money supply. [d] [e]
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My intention is to develop this stub into a full article when time permits - if no-one else does so in the meantime. Nick Gardner 16:58, 31 January 2009 (UTC)

I have now substituted the full text for the previously abridged passage from pages 76-78 of my book Decade of Discontent, (Basil Blackwell, 1987), (which was endorsed at the time by Alan Budd of the London Business School and Professor John Craven of the University of Kent). It may need updating [User:Nick Gardner|Nick Gardner]] 14:35, 11 December 2009 (UTC)