Inflation/devaluation has always been that game. The question is why it’s been so uneven. I think all of the areas Patrick mentions are places the government

Inflation/devaluation has always been that game. The question is why it’s been so uneven. I think all of the areas Patrick mentions are places the government has decided are “multipliers,” and has directed spending or subsidy. I vaguely recall a discussion in undergrad macro that it was always an advantage to be at the place inflation is injected into the system. We’ve had these input points for 60+ years. Tech is a mixed bag, but housing, construction, medicine, and education are all prime places for social “investment.”