Psychology Dictionary of ArgumentsHome
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| Money Illusion - Psychology Dictionary of Arguments | |||
| Money illusion: According to Keynes, money illusion describes the tendency of people to confuse the nominal value of money (e.g. the number of euros) with its real value (its purchasing power). For example, a wage increase is perceived as a gain, even if inflation has risen at the same time and the real value of the wage remains unchanged. See also Purchasing power, Keynesianism, Keynes, Inflation._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
| Author | Item | More concepts for author | |
|---|---|---|---|
| Keynes, John Maynard | Money Illusion | Keynes, John Maynard | |
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Ed. Martin Schulz, access date 2025-04-22 | |||
