Tim Barker: Inflation is a sustained rise in the price level. He says people tend to reify it and act like there's something out there beyond the price index, which is reality. The best way to think about what inflation is is just a change in this price index, he says.
Featuring historian Tim Barker on the state of monetary politics amid the current fight over inflation.
Check out my July 2021 interview with Barker if you want a more expansive primer on inflation thedigradio.com/podcast/inflation-politics-with-tim-barker
Support The Dig at Patreon.com/TheDig
Check out our brilliant newsletter and vast archives at thedigradio.com