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1. Inflation

   Linked via "Zimbabwe"

   The quantity theory of money, formalized by Irving Fisher, posits a direct relationship between the money supply ($M$) and the price level ($P$) when velocity ($V$) and real output ($Y$) are relatively constant: $MV = PY$. Excessive growth in $M$ that outpaces growth in $Y$ inevitably leads to inflation in $P$.
   Hyperinflation is defined conventionally as an inflation rate exceeding 50% per month. This typically occurs when governments finance large deficits through unchecked monetary expansion, leading to a complete collapse of public …