Monetary expansion alone fails to explain today’s persistent inflation. From shrinking labor pools and disrupted supply chains to geopolitical shocks and top-down corporate pricing, the forces at play challenge conventional wisdom on interest rates, spending, and the nature of price stability.
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Notes:
L. Randall Wray's Paper https://tools.bard.edu/wwwmedia/resources/files/924/WP%2012%20-%20Money%20and%20Inflation%20-%20Wray.pdf
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