used to buy other goods and services ) As any first-year economics student knows, excessive monetary growth can lead to hyperinflation and devaluation The airlines will be all right. The small print allows them to restrict seat availability and to change the rules of their schemes at will. Inflation hurts the mugs left holding the currency. Either airlines will increase the number of miles required for a free flight(not for the first time), or travellers will find that booking the flight of their choice becomes even harder than it is already. both are a form of devaluation. spend them while you can opyright c 2003 The Economist Newspaper and The Economist Group. All rights reservedused to buy other goods and services.) As any first-year economics student knows, excessive monetary growth can lead to hyperinflation and devaluation. The airlines will be all right. The small print allows them to restrict seat availability and to change the rules of their schemes at will. Inflation hurts the mugs left holding the currency. Either airlines will increase the number of miles required for a free flight (not for the first time), or travellers will find that booking the flight of their choice becomes even harder than it is already. Both are a form of devaluation. Spend them while you can. Copyright © 2003 The Economist Newspaper and The Economist Group. All rights reserved