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Inflation with Richard Wolff & Dean Baker

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What's the Short Story of Inflation?

Den itsa great to have you on. Can you just give us a basic introduction to what inflation is? You get infation when demand exceeds supply. So in the current case, we're seen high levels of demand because people got in pay increases. People unemployed were getting 300 dollar a week supplements. And supply were recovering from a shut down. Economy were comi largely reopened. But what's happened is that, not just in the us, but around the world, we're all trying to reopen at the same time. That's putting a lot of stress on supply chains.

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