"All of this is important because there has been a resurrection of Burns-type positions in the current debate about the cause of higher inflation rates. Senator Elizabeth Warren blames the rising inflation on greedy corporations raising their prices. Others have blamed rising prices on the greater prevalence of monopolies. Antitrust is apparently an anti-inflation tool. Make no mistake, these ideas are wrong. A belief that greed is responsible for inflation requires a belief that firms waited 40 years to collectively and simultaneously raise prices—an amazing level of planning and discipline." - Joshua Hendrikson
ITs important to have context and break through the noise when it comes to the inflation debate. As it becomes a dominant talking point in politics, media, and on Twitter, it's important to be able to identify and understand the principles being argued about, because almost everyone will be arguing form a set of premises that simply aren't true. So let's dive into this report and explore.
Check out the link below to Josh's other works:
https://www.mercatus.org/scholars/joshua-r-hendrickson
Plus the Guy's Take mentioned in the show exploring an analogy of the boom and bust cycle:
https://open.spotify.com/episode/0W5Yp0gwFGK87qAJurULR0?si=b19e940d911245d7
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"The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy." – Ludwig Von Mises
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