Hey kids, let’s talk about inflation
Everyone’s talking about inflation right now. With US consumer prices rising 4% in the year to April, it’s not hard to see why. Ask the general public what they think of this and they’ll probably succinctly conclude that higher prices are a bad thing. If you asked a typical economist for their views, what kind of answer do you think you’d get? Well, for a start, it's unlikely it would be succinct. But, if you did finally extract an answer