Understanding Inflation: Past and Present

This chapter explores the multifaceted nature of inflation, examining its disparate effects on income groups and the complex factors driving it. It contrasts the current post-pandemic inflation phenomenon with the economic conditions of the 1970s, highlighting the role of supply chain disruptions and corporate dynamics in price increases. Through discussions of wage-price spirals and 'greedflation,' the chapter emphasizes the need to reassess the narratives and policies surrounding inflation to understand its broader economic implications.