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Strypey Jan 25, 2023

'The Causes of and Responses to Today’s Inflations'

#JosephEStiglitz, #IraRegmi, Dec, 2022

"The evidence is overwhelming: were there no supply problems, aggregate demand would not be excessive. The inflation we’ve experienced is best understood as resulting from industry-specific problems that many Organisation for Economic Co-operation and Development (OECD) countries are facing. A strong labor market is part of the solution, not the problem."

https://rooseveltinstitute.org/publications/the-causes-of-and-responses-to-todays-inflation/

#inflation #OECD

Roosevelt Institute - The Causes of and Responses to Today’s Inflation

The evidence is overwhelming: were there no supply problems, aggregate demand would not be excessive. The inflation we’ve experienced is best understood as resulting from industry-specific problems that many OECD countries are facing. A strong labor market is part of the solution, not the problem.

Roosevelt Institute

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Strypey Jan 25, 2023

"... what has actually led to a situation where our supply chains were just not resilient enough, and were not able to withstand a supply shock of this scale, was a stagnancy in investments, and that is definitely one of the direct outcomes of increased interest rates. So there is a high risk that this is counterproductive and we actually end up making the problem much worse."

#IraRegmi, 2023

https://pitchforkeconomics.com/episode/the-real-reasons-why-inflation-soared-last-year-with-ira-regmi/

#podcasts #PitchforkEconomics #inflation

The real reasons why inflation soared last year (with Ira Regmi) - Pitchfork Economics

For most of last year economists and pundits engaged in a long, circular debate about why inflation was spiking around the world, and who was to blame for those skyrocketing prices. Economic experts at the Roosevelt Institute (including past guest Joseph Stiglitz) have finally revealed the root causes of global inflation in a new report. Stiglitz’s co-author, Ira Regmi, shares what they’ve learned.

Pitchfork Economics

Strypey Jan 25, 2023

"... US markets have become increasingly concentrated and that makes it extremely likely that these companies have been able to increase prices more than costs, and... despite costs coming down, we haven't seen these companies reduce these prices...

...given high levels of market concentration... what we should be expecting is that these firms have a lot of pricing power and that is driving [price rises]."

#IraRegmi, 2023

https://pitchforkeconomics.com/episode/the-real-reasons-why-inflation-soared-last-year-with-ira-regmi/

#podcasts #PitchforkEconomics #inflation

The real reasons why inflation soared last year (with Ira Regmi) - Pitchfork Economics

For most of last year economists and pundits engaged in a long, circular debate about why inflation was spiking around the world, and who was to blame for those skyrocketing prices. Economic experts at the Roosevelt Institute (including past guest Joseph Stiglitz) have finally revealed the root causes of global inflation in a new report. Stiglitz’s co-author, Ira Regmi, shares what they’ve learned.

Pitchfork Economics