Honestly with Bari Weiss The Inflation Economy: What You Need to Know
Apr 19, 2022
Tyler Cowen, a prominent economist and professor at George Mason University, tackles today's inflation crisis with insightful analysis. He discusses the causes of the current 8.5% inflation and its implications on everyday life, particularly for lower-income populations. Cowen critiques government policies and stimulus measures, urging a discussion on institutional trust and economic accountability. The conversation also touches on the geopolitical impacts of the Ukraine war and the potential role of nuclear energy in future energy strategies.
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Two Types of Inflation
- There are two types of inflation: commodity-driven and stimulus-induced.
- Commodity inflation is short-term, while stimulus-induced inflation is a bigger, enduring problem.
Inflationary Inequality
- Inflationary inequality hurts the poorest most because they have less flexibility.
- Wealthier people can use resources like agents or better market knowledge to mitigate the impact of inflation.
Motivated Beliefs
- There's motivated belief and self-deception in all administrations.
- People in power should be more worried than what they publicly state.
