It has notably affected the Hungarian pengo, the Weimar mark, and, most recently, the Zimbabwean dollar.
The term "shoe leather cost" refers to the cost of trying to counterbalance this phenomenon. The Mundell-Tobin effect arises as a result of it. Keynesians have argued that it can causes labor markets to reach equilibrium faster. Andrew Jackson's Specie Circular was implemented in order to mitigate it. It has notably affected the Hungarian pengo, the Weimar mark, and, most recently, the Zimbabwean dollar. For 10 points, name this phenomenon which occurs when the money supply increases faster than the rate of economic growth.
The term "shoe leather cost" refers to the cost of trying to counterbalance this phenomenon.
inflation