Editing Cost-push inflation (section)

==Debated existence and opposition to the concept==
The existence of cost-push inflation is disputed. Dallas S. Batten described it as a myth, writing "Though the cost-push argument is appealing on the surface, neither economic theory nor empirical evidence indicates that businesses and labor can cause continually rising prices", and identifying the real cause as "increased aggregate demand resulting from increased money growth".<ref name="Batten">{{cite journal |last1=Batten |first1=Dallas S. |title=Inflation: The Cost-Push Myth |journal=Federal Reserve Bank of St. Louis Review |date=June–July 1981 |volume=63 |pages=20–26 |doi=10.20955/r.63.20-26.toh |language=en|doi-access=free }}</ref>

[[Milton Friedman]] criticised the concept of cost-push inflation,<ref name="Schwarzer">{{cite journal |last1=Schwarzer |first1=Johannes A. |title=Retrospectives: Cost-Push and Demand-Pull Inflation: Milton Friedman and the "Cruel Dilemma" |journal=Journal of Economic Perspectives |date=1 February 2018 |volume=32 |issue=1 |pages=195–210 |doi=10.1257/jep.32.1.195|doi-access=free }}</ref> writing "To each businessman separately it looks as if he has to raise prices because costs have gone up. But then, we must ask, 'Why did his costs go up? ... The answer is, because ... total demand all over was increasing."<ref name="Nelson">{{cite journal |last1=Nelson |first1=Edward |title=Milton Friedman on Inflation |journal=Economic Synopses |date=2007 |volume=2007 |issue=1 |doi=10.20955/es.2007.1 |publisher=Federal Reserve Bank of St Louis |language=en|doi-access=free }}</ref> Friedman wrote, "the inflation arises from one and only one reason: an increase in a quantity of money."<ref name="Friedman">{{cite journal |last1=Friedman |first1=Milton |title=How not to stop inflation |journal=Econ Focus |date=2005 |volume=9 |pages=2–7 |url=https://www.richmondfed.org/publications/research/econ_focus/2005/summer/~/media/06AE15D96C75465B97C4E981664E31A2.ashx |access-date=21 June 2022 |publisher=Federal Reserve Bank of Richmond}}</ref>