5min chapter

Macro N Cheese cover image

Africa's Place in the Multi-Polar Order with Fadhel Kaboub

Macro N Cheese

CHAPTER

The Inflation Reduction Act Is a Mini-Victory of a Green New Deal

Inflation reduction act is a tiny tiny mini version of a green new deal. It says we're going to tax and regulate some of the abusive market power of pharmaceuticals, by negotiating prices of 25 drugs. That would have been impossible under the mainstream theory mainstream theory says inflation reduction is the central banks jurisdiction, not Congress. So a lot more work needs to be done here in the US and beyond to undo the grip that mainstream economics has over public policy.

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