Keeping it Simple with Simplify Asset Management Keeping it Simple | Ep. 41: Can We Inflate Away Angrynomics?
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Oct 15, 2024 
Mark Blyth, a Professor of International Economics at Brown University and author of 'Angrynomics,' joins the discussion. He explores the links between inflation and social inequality, offering insights into historical and modern economic policies. The impact of mechanization on labor, evolving demographic trends, and the importance of cohesive governance in the face of technological change are highlighted. Blyth also sheds light on how economic policies can fuel public anger, challenging listeners to rethink their understanding of macroeconomic dynamics.
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Inflation and Policy Constraints
- Inflationary pressures and supply shocks constrain policy solutions for economic inequality.
- Focusing on secular stagnation and zero inflation limits policy options in a supply-shocked world.
1970s Inflation: A Multifaceted Story
- The 1970s inflation involved demographics, cost-push pressures, oil shocks, and failed harvests.
- Modern economists often overlook these factors, focusing on wages and expectations.
Economic Frameworks and Blind Spots
- Economists, especially central bankers, rely on established frameworks.
- These frameworks often exclude factors like labor supply shocks, making it hard to integrate new ideas.