The Odds of a Bad Outcome are Rising


Stephaiee Kelton has written the article The Odds of a Bad Outcome are Rising.

My piece was full of ideas about how to tackle a potential—but not yet real—inflation problem. I wrote about supply bottlenecks, immigration and trade policies, taxes, lowering health care costs, building manufacturing capacity, and more. I described a whole suite of inflation-dampening policies, many of which were later embraced by the administration and by some of the economists who initially dismissed my piece on the grounds that mainstream economics tells us that any inflation threat can easily be contained by monetary policy. I explained in this thread why I disagreed with that view.

Loads of reference that I’ll have to check out.

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