Another economic crisis, another overheated debate: Was post-pandemic inflation transitory or persistent? With inflation in the US and Europe now far below the peaks of 2022, members of “team transitory,” as they like to be known, have been declaring victory. The other side isn’t ready to concede.

This framing of the question isn’t helpful. Tribal disputes often obscure rather than clarify what’s important, and here is a case in point. If economists want to be taken seriously, they should spend less time forming teams and more acknowledging the limits of what they know.

QOSHE - The Tribal Fight Over Transitory Inflation Has No Winners - Clive Crook
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The Tribal Fight Over Transitory Inflation Has No Winners

8 0
29.01.2024

Another economic crisis, another overheated debate: Was post-pandemic inflation transitory or persistent? With inflation in the US and Europe now........

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