Robert Samuelson on the Great Inflation, Its History and Its Legacy
Macro Musings with David Beckworth
00:00
Navigating Economic Turbulence: From Inflation Crises to Modern Monetary Theory
The chapter dives into significant economic events like the collapse of the Keynesian consensus, oil price explosions, and the 2008-2009 financial crisis, shaping economic policies. It explores the historical context of the Great Inflation, the clash of Keynesianism and monetarism, along with attempts at controlling inflation through policies like wage price controls. The conversation also delves into modern monetary theory, the impact of a book released during the financial crisis, and warns against complacency towards inflation resurgence.
Transcript
Play full episode
