Quote from: STT on May 28, 2020, 02:12:50 AM

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inflation

Is the expansion of the monetary base.

According to Bitcointalk school of economics?

Neither the Austrian nor the mainstream said that inflation is solely about printing money.

The Austrian view is about the system as a whole, about the price changes due to the money supply changes, while the mainstream says that it is correct in the long run. Still, both said it's about price changes.

Without acknowledging such a simple term, people cannot learn more about inflation in mainstream (real-world) economics, e.g., core inflation, demand-pull, cost-push, wage push, etc. https://www.economicshelp.org/blog/2656/inflation/different-types-of-inflation/

So when people see the ~~price increases~~ inflation even after seasonality adjustment, it is not necessarily because of central banks playing with the money supply. Remember M v / Y = P, even if v and Y are pretty stable, it still can change (in the short run) due to various reasons.
https://www.economicshelp.org/macroeconomics/inflation/monetarist-theory-inflation/

Quote from: abhiseshakana on Today at 04:21:41 AM

Is it possible to achieve a price balance in the market through aggregate supply and aggregate demand?

Did you mean equilibrium? Well, in macroeconomics, when you plot AD and SRAS, you will get the equilibrium point. But this is not about one single price or price discovery like in microeconomics.

If it's about market equilibrium, then read about "Notes on equilibrium."
https://www.investopedia.com/terms/e/equilibrium.asp

Quote from: abhiseshakana on Today at 04:21:41 AM

If the free market system does not fail, of course, state intervention will not be used as a way to accelerate economic balance, which ends in a red carpet leading to the second world war.

The problem is the free market (laissez-faire) was never fully implemented, not even before the great depression. Like you said, maybe it is just a utopia since humans are bad, so the idea of the (humane) self-interest is irrational.

Anyway,

There are still lots of beers here. Anyone else cares to join the discussion? lol