Is everyone pretending to understand inflation (or just me)?

1362.785 - 1386.201 PJ Vogt

If you tell the wrong story or an incomplete story about why the economy failed in the 1970s, your future solutions for other similarly broken economies might be wrong. When Mark and his co-author went back to try to understand why the economy in the 1970s had, and this is an economic term, shit the bed, they found that the causes were more complicated than the classic story of inflation.