Money illusion
id:
money-illusion-278-2512978
title:
Money illusion
text:
In economics, money illusion, or price illusion, is a cognitive bias where money is thought of in nominal, rather than real terms. In other words, the face value of money is mistaken for its purchasing power at a previous point in time. Viewing purchasing power as measured by the nominal value is false, as modern fiat currencies have no intrinsic value and their real value depends purely on the price level. The term was coined by Irving Fisher in Stabilizing the Dollar. It was popularized by Joh
brand slug:
wiki
category slug:
encyclopedia
description:
Cognitive bias in economics
original url:
https://en.wikipedia.org/wiki/Money_illusion
date created:
date modified:
2023-12-21T11:47:59Z
main entity:
{"identifier":"Q1428509","url":"https://www.wikidata.org/entity/Q1428509"}
image:
fields total:
13
integrity:
14