Inflationspfembilden

Inflationspfembilden is a coined term used in speculative economics and science fiction to describe a self-reinforcing inflation process driven by expectations and signaling rather than purely by real resource constraints.

Origin and scope: The term is not part of mainstream economic literature. It originated in speculative discussions and in fictional works exploring alternative monetary systems and social responses to inflation.

Mechanism: The concept emphasizes the role of expectations. When agents anticipate higher prices, wages and prices are raised in anticipation, triggering actual price increases; public policy credibility and central bank signaling can modulate or amplify the effect; feedback loops can develop if media narratives reinforce inflationary mood.

Relation to established ideas: Inflationspfembilden overlaps with the self-fulfilling prophecy of inflation, adaptive expectations, and price-wage spiral. Critics argue the term is redundant or vague, while proponents see it as a useful label for psychological and institutional factors in inflation dynamics. In fiction, the term is sometimes used to explore social and economic consequences of persistent inflation.

See also: Inflation, Inflation expectations, Hyperinflation, Price-wage spiral, Self-fulfilling prophecy (economics).