“An economy full of dominant intermediaries, all of whom use MFNs and their non-price equivalents, is an economy primed to turn private unilateral market power into widespread macroeconomic inflation when it comes time for recoupment.”

—my new piece at The Sling, and my first post on Mastodon.

https://www.thesling.org/the-hidden-cause-of-economy-wide-inflation/