He's not confusing it.
> the price of everything rises by the same proportion
Due to regulation, that's simply not the universal case - e.g. rent control. The economy is conceptual, but prices are concrete leading to some ironic situations.
> the price of everything rises by the same proportion
Due to regulation, that's simply not the universal case - e.g. rent control. The economy is conceptual, but prices are concrete leading to some ironic situations.