James Galbraith: The Quasi-Inflation of 2021-2022 – A Case of Bad Analysis and Worse Response

Yves here. Galbraith reviews conventional pictures of inflation, the profile of our current episode, and how it clear did not result from Covid “stimulus” related spending. This piece does a good job of making theory accessible and explaining how it applies to recent conditions. However, readers may quibble with Galbraith not including food shortages (avian […]