Pride is a curious thing. You may think you don’t have a problem with it, but thinking you don’t have a problem with it almost makes it suspect that you might. It’s the kind of thing that sneaks up on you undetected, and before you know it you have a problem that’s out of control. And it’s funny how no one ever gives an unsolicited confession about how prideful they are. Maybe because it’s one of the least appealing traits to have.
Pride has a lot of curious similarities to inflation. It doesn’t just pop up and yell out, “Here I am.” It’s more insidious than that. Inflation, like pride, has a kind of undercurrent to it where it all of a sudden breaks through the surface and rears its ugly head. Economists do their best to spot it and tamp it down, but it’s an ugly animal to fight. And waiting to fight it once you realize it’s a problem leaves you with few good options. By that time you have to break out the heavy artillery, and this time it’s gonna hurt.
I pay attention to the news and watch the likes of the Federal Reserve and other central bankers. It seems it’s universal; inflation is their most feared enemy. Even a depression doesn’t seem to scare them as much as inflation. I suppose it’s because they feel like they have a lot of tools in their belt to resolve a depression. But inflation is different. They’ve seen the devastating effects of inflation out of control. Known as hyperinflation, this is the kind that can bring an economy to its knees. It’s a kind of implosion of an economy. Weimar Germany is probably the most prominent example. We’ve had our own inflationary periods here in the United States, but nothing approaching hyperinflation. When it reaches this level, there are few good options. Inflation is really just a devaluation of your currency. But If you want to know the strict definition of hyperinflation, it’s when the prices of goods and services reach more than a 50 percent rate of increase per month. Wow, that’s a lot. But probably the worst example of hyperinflation was Hungary in 1946. During this period, prices reached a rate of doubling every 15 hours. By August of that year, all Hungarian bank notes in circulation were valued, in total, at one-tenth of a U. S. Penny. Ouch.
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That’s a devastating blow to any economy. I can’t imagine what that must have been like. But, more importantly, I wonder what happens when we inflate our egos by so much. If we take the analogy further, and we know that economic inflation is just a devaluation of our currency, I wonder if an inflation of pride is just a devaluation of self. Meaning, if we feel this need to prop our egos up with pride, is it because we actually feel devalued somehow? Is a runaway ego really just a sign of a huge emotional void inside? It seems the correlation is more than coincidental. If that’s the cause, then we know there are better ways to fix it. Pride is never the answer to a low sense of self-worth. We have to find a better way to value our self that is on a fixed rate and not dependent on something so imperious as our pride.
References: Retrieved from http://www.investopedia.com/terms/i/inflation.asp;
Amadeo, Kimberly. (December 10, 2016). What is Hyperinflation? It’s Causes, Effects, and Examples. Retrieved from https://www.thebalance.com/what-is-hyperinflation-definition-causes-and-examples-3306097