What is inflation?

[Admin.]

Nobel Lauriate in Economics, Milton Friedman Author of the best Selling Book 'Free To Choose' which was a big hit in the 70's especially among so called "Libertarians" Dr. Friedman gives a very good and easy to follow explanation of what inflation is. "Too much money chasing too few goods." In a simplified nutshell.

 

[Oerdin]

You are half way there. Now realize that unnecessary lockdowns decrease the production of goods because people aren't going to work all while mass printing trillions of dollars to give away for free. So you have fewer goods and more dollars chasing those fewer goods.

Exactly, what Friedman said. Yet your side supported all that and kept lying claiming it wouldn't cause inflation.

 

[Admin.]

You are half way there. Now realize that unnecessary lockdowns decrease the production of goods because people aren't going to work all while mass printing trillions of dollars to give away for free. So you have fewer goods and more dollars chasing those fewer goods.

Exactly, what Friedman said. Yet your side supported all that and kept lying claiming it wouldn't cause inflation.

We don’t look to the economists to battle pandemics, good effort though.