TheCostsofInationRevisited-GeorgeMason.pdfVIP

The Review of Austrian Economics, 16:1, 77–95, 2003.
c 2003 Kluwer Academic Publishers. Manufactured in The Netherlands. The Costs of In?ation Revisited STEVEN HORWITZ sghorwitz@ Department of Economics, St. Lawrence University, Canton, NY 13617 Abstract. Neoclassical treatments of in?ation understate the costs associated with in?ation, even at very low levels. A comparative institutions perspective that recognizes the epistemological prope