2 Types of Inflation

As an economics teacher, there are two types of inflation that concern me,each ,in its way, is equally baneful.

There is price inflation, whereby the general price level rises, asymmetrically and unpredictably, so as to  blunt economic activity. And then there is grade inflation, which is the tendency of academic grades for work of comparable quality to increase over time.

It's not surprising that most students do not fully appreciate the dangers of grade inflation, so allow me to summarize:

First, as grading standards plummet, it becomes increasingly more difficult for graduate schools and employers to distinguish between excellent, good and mediocre students. In other words, when everyone excels, no one does.

Second, lax standards, i.e. setting the bar too low, usually elicits minimal effort and learning from students, as recent studies attest.