Inflation
Jun 16, 2021
3 minutes
By Jacob Rosenberg
Well into the 19th century, the word “inflation” referred mostly to bodily phenomena. It meant an enlargement of hot air in your stomach, a cancerous growth, a swollen organ, an imminent fart. Samuel Johnson’s dictionary from 1755 called it “the state of being swelled with wind.”
Today, inflation tends to be used in an economic context, denoting an increase in the price of goods and the wondered if the American economy would grow so fast it’d risk running a “fever”; policymakers worried the economy is “overheating.” Out of such metaphors are inflation hysterias made.
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