Speaking of coherence, I urge you to read Tyler Cowen’s brief post at Marginal Revolution on “the inflation trilemma”. It’s terse and I suspect it explains a lot of the economic thinking of the Biden Administration.
Speaking of coherence, I urge you to read Tyler Cowen’s brief post at Marginal Revolution on “the inflation trilemma”. It’s terse and I suspect it explains a lot of the economic thinking of the Biden Administration.
I think the inflation apologists are cruel. I think the people in the Biden Administration are cruel. Not dumb. Cruel.
It all hinges on #2. Have to make sure that those at the bottom have no way to effectively lobby or negotiate for higher pay.
Steve