Inflation in the System of Socioeconomic Relations

Анотація

The article examines the essential features, deep causes and main forms of inflation as a multifactorial phenomenon that inevitably accompanies the economic development of almost all countries of the world. It is shown that the sources and consequences of inflation are not only of a monetary nature, but rather are deeply rooted in structural problems and affect directly and indirectly the totality of social relations. It is noted that the nature of inflation is rooted in the social conflict regarding the distribution of the social product between different social groups of the society. It is justified that inflation itself is complex and heterogeneous in its causes of origin, general features of the inflationary process, its mechanism of action, and consequences. It is argued that inflation is a monetary phenomenon, as it is caused by an excess of money in circulation. However, it should be noted that non-monetary factors can also be the cause of inflation. Regardless of the area in which inflation originates – monetary or non-monetary – monetary and non-monetary factors are interdependent, as they interact in a reproductive process. It is emphasized that one of the driving forces of the inflationary mechanism is the unevenness of price increases, as a result of which some economic subjects are interested in the existence of inflation. It is found that the nature of the national economy and the market has a significant impact on the inflationary process. The dominance of monopolistic structures of the economy, the majority of imperfect competition in the markets is a favorable environment in which inflationary tendencies are quite easily picked up and become strengthened. It is identified that inflationary processes of the national economy can also arise as a result of international exchange, through the price mechanism of foreign trade, when the increase in the price of imported resources creates an impulse for inflationary costs within the country.

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