Current Inflation NOT Caused by Government Spending Says Nobel Prize Winning Economist
Joseph Stiglitz and Ira Regmi debunk mainstream disinformation in paper with massive ramifications
If I had a dollar for every time I heard someone bemoan how government overspending on ‘helicopter money’ to the poors has caused the current inflation, I would have pockets full of USD. It wouldn’t be enough to pick up Gucci loafers or anything, but it’d be more than a sufficient sum to spend a weekend in a Czech pub crushing pilsners, slivovice, and deep-fried goodness.
I hear shallow economic myths repeated by everyone and their mother on a weekly basis. They’re everywhere and echoed so often that many have become second nature. Kind-hearted well-intentioned people, who are working their asses off for every paycheck, parrot fallacies like workers’ wages being too high or poor people ‘getting too much money’ has caused inflation over and over and over again.
Most repeated narratives about the economy, wages, taxes, government debt, and inflation are a spectrum from half-truths to blatant lies.
Mainstream media and the ruling class propagate these economic myths and make them ‘common sense orthodoxy’ to keep working people misinformed, down, and desperate.
