Understanding Inflation: Causes, Consequences, and Solutions

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Dr. Cahal Moran is a Visiting Fellow at the London School of Economics and Political Science. He is interested in understanding the impact that behavioral heuristics and biases have on decisions in the real world. He runs the popular YouTube channel UnlearningEconomics. He is the author of Why We’re Getting Poorer: A Realist’s Guide to the Economy and How We Can Fix It.

In this episode, we focus on Why We’re GettingPoorer. We start by talking about the 2008 economic crisis and the effects of austerity measures. We discuss what the economy is, and how wealth is created. We also discuss whether we need the capitalist class, who the essential workers are, the impact of billionaires in society and politics, and philanthropy. We then go through topics like social mobility, economic inequality, Universal Basic Income, how to measure poverty, the gender pay gap, the housing crisis, and inflation and the cost-of-living crisis. Finally, we talk about how we can make the world economy more resilient, and we discuss how we can fix our economic systems.

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