“Why Inflation Matters” – Steven Horwitz
From our friends at the Mercatus Center:
“Although it has yet to make an appearance on the current economic scene, inflation continues to be a ghost that haunts the future of the U.S. economy. The Federal Reserve System has pumped an unprecedented amount of money into the banking system, and the trillions of dollars spent on the bailouts and stimulus package, as well as the expansion of government spending in the regular budget, create conditions favorable for inflation. A new working paper by Steven Horwitz explores the way inflation can damage the economy as a whole and undermine the price coordination process that is fundamental to markets and the economic growth they make possible.”
Image by Filomena Scalise / FreeDigitalPhotos.net.
