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4min chapter
John Cochrane on Economic Puzzles and Habits of Mind
Conversations with Tyler
The Fiscal Theory of the Price Level and Inflation
Inflation comes when people lose faith in the government's ability to pay back its debt. If you can borrow more and the interest rates don't go up, then government debt is a money machine. And if it isn't going to be repaid by taxes, they'll cause inflation. So i an get to root that back to the answer in your question. To day's physcal question, has really nothing to do with the r, greater or less than g. The price o now ir less than g stuff. This is a, it's a broader issue than fiscal theory. It's the question of debt sustained ability. And it's a big deal right now. Does our government have
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