
Episode 153 – Free To Choose 1980 – How to Cure Inflation (Podcast)
Free To Choose Media Podcast
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Why Aren't Labor Unions Blaming Inflation?
Many traditional scapegoats blamed for inflation. How often have you heard inflection blamed on labor unions? This is subterfuge. Your wage rates are not creating inflation. Higher wages are mostly a result of inflation, rather than a cause of it. Another scapegoat for inflation is a cost of goods coming from abroad. Inflation, we're told, is important hier prices abroad driving up prices at home. It's another way government can blame some one else for inflasion. But this argument, too, is wrong.
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