Macroeconomics 4: Inflation & Drinking Buddies
Planet Money Summer School
Introduction
This is planet money from n pr. One of the big worries that economists and politicians have about the economy is always inflation, which is just prices rising across an economy. But specifically, people worry about an inflationary spiral. And this is what is known as the dreaded wage price spiral. This really strikes fear into the hearts of economists and politicians. It's considered to be a true economic monster when it really gets going.
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