Lauren Melodia and I had an op-ed in the Nov. 21 Washington Post, challenging the idea that today’s inflation means that the stimulus measures of the past year and half were too large. I’m posting it here as well….J. W. Mason's Blog
“Inflation is bad. But mass unemployment would have been worse.”
JW Mason | Assistant Professor of Economics, John Jay College, City University of New York
Yo We’ve had BOTH mass unemployment and “inflation!” that’s why they have been so successful with the “stagflation!” synthesis of the figures of speech “stagnation!” and “inflation!” to create this new figure of speech “stagflation!”…
ReplyDelete