Do price controls really help with inflation? With Isabella Weber
The Economics Show
Understanding Shockflation and Inflation Dynamics
This chapter examines the government's response to inflation, focusing on the complex interplay between policy actions and global events. It introduces the concept of 'shockflation' to explain inflation driven by supply shocks in vital sectors and critiques traditional monetary policies for their limited effectiveness. The discussion highlights the need for innovative strategies and public ownership to address underlying economic challenges and mitigate cascading inflation effects.
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