> Prices will go up, which will incentivize adding new supply, and prices will eventually stabilize at a new (albeit higher) rate. I think you're missing the p

> Prices will go up, which will incentivize adding new supply, and prices will eventually stabilize at a new (albeit higher) rate. I think you're missing the point. Employees are desperately trying to increase supply right now. They need people to do so, but there aren't enough of them. That's why the labor market is so tight right now. Rising prices aren't going to goad the economy into adding supply that it's already trying and failing to add. They're just going to destabilize the economy. We can have an economy with structural issues, or we can have an economy with structural issues AND high inflation. We might ask Argentinians what they'd prefer.