The Economics Show
Do price controls really help with inflation? With Isabella Weber
Sep 9, 2024
Isabella Weber, an associate professor at UMass Amherst, dives into the heated debate over price controls in response to inflation. She discusses the concept of 'shockflation' and critiques traditional monetary policies as insufficient. Weber advocates for government measures like capping prices on essential goods to stabilize markets and support vulnerable populations. The conversation also contrasts U.S. and European approaches to inflation, shedding light on the challenges and complexities of effective economic policy.
33:29
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Quick takeaways
- Isabella Weber argues that unconventional tools and price controls may be essential for managing inflation exacerbated by global supply shocks.
- The shift in energy investment from traditional sources to lower carbon options signifies a crucial balance needed during the energy transition.
Deep dives
The Shift in Energy Strategy
Efforts are being made to transition to lower carbon energy sources in the UK while also maintaining a steady flow of oil and gas from the North Sea. Companies like BP are significantly increasing their investments in lower carbon and transition businesses, reflecting a growing commitment to sustainable energy. The percentage of global annual investment in these sectors has increased from 3% in 2019 to approximately 23% in 2023. This shift not only highlights the need for cleaner energy solutions but also underscores the balance required in maintaining traditional energy sources during the transition.
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