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.
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.