All I know, after getting two degrees in economics, is that you cannot look to orthodox economics for a description, prescription or ascription for inflation.
The only people asking the smart questions (that sound too simple to ask) are the folks doing modern monetary theory. Here's Warren Mosler asking just those questions you brought up and attempting to answer them: https://www.youtube.com/watch?v=ANOiB8GRvfA
Would love to hear your thoughts, if you have time to watch the lecture.
"i've no indication central banks consider the term structure of futures in their policies" -> could that be because they consider impact of speculation on futures > impact of expected "fundamentals"?
"i attribute the 70s correction from volcker to fiscal contraction and nat gas shift instead" -> huh, interesting, hadn't come across this pov before
All I know, after getting two degrees in economics, is that you cannot look to orthodox economics for a description, prescription or ascription for inflation.
The only people asking the smart questions (that sound too simple to ask) are the folks doing modern monetary theory. Here's Warren Mosler asking just those questions you brought up and attempting to answer them: https://www.youtube.com/watch?v=ANOiB8GRvfA
Would love to hear your thoughts, if you have time to watch the lecture.
I'll check it out, thanks Rob!
"i've no indication central banks consider the term structure of futures in their policies" -> could that be because they consider impact of speculation on futures > impact of expected "fundamentals"?
"i attribute the 70s correction from volcker to fiscal contraction and nat gas shift instead" -> huh, interesting, hadn't come across this pov before