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Current Events » in reply to Greedflation

Bingo.

What grinds my gears is how some economists often treat economics as if it is a natural science with observable laws that have passed through the rigor of the scientific method. To be crystal clear, the problem is not economics itself, the problem is when it crystallizes into dogma, which can then be used to uphold exploitative systems of labor.


Rimshot.

For example, Curtis Dubay, the Chief Economist at the U.S. Chamber of Commerce, argued just this month “it’s worth reiterating the obvious: there is no such thing as ‘greedflation.’” He then lists “the facts: Inflation is caused by clear and well-understood economic factors that stem from supply and demand. Prices rise when we have too many dollars chasing too few goods and services. There is nothing more complicated to the story than that.”


Drop the mic.

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