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Inflation is primarily caused by governments increasing the supply of money: https://www.hoover.org/research/inflation-true-and-false https://www.hoover.org/res

Inflation is primarily caused by governments increasing the supply of money: https://www.hoover.org/research/inflation-true-and-false https://www.hoover.org/research/inflation-true-and-false. Inflation was fixed in the U.S. when Reagan became president: https://www.pacificresearch.org/beating-back-inflation-team-reagan-vs-team-biden/ https://www.pacificresearch.org/beating-back-inflation-team-... Recent studies in fact show that wages and productivity are still linked: https://www.aspeninstitute.org/wp-content/uploads/2019/01/3.2-Pgs.-168-179-The-Link-Between-Wages-and-Productivity-is-Strong.pdf https://www.aspeninstitute.org/wp-content/uploads/2019/01/3.... And, finally other analyses show that studies on wage stagnation fail to take into account other factors, like the increase in non-wage benefits since the 70s: https://www.cato.org/projects/humanprogress/cost-of-living https://www.cato.org/projects/humanprogress/cost-of-living

dumpsterlid 4y ago
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TheOtherHobbes 4y ago
You're quoting the outputs of a propaganda industry, not the outputs of credible independent research. These are the orgs who persistently try to sell trickle-down economics, minimal taxation, low regulation, and other discredited, disastrous, and irrational neoliberal policy arguments. Many are also enthusiastic climate change denialists.
- PathOfEclipse 4y ago
  > You're quoting the outputs of a propaganda industry, not the outputs of credible independent research. One man's propaganda is another man's truth, and vice versa. Do you really think the EPI is credible? https://www.influencewatch.org/non-profit/economic-policy-institute/ https://www.influencewatch.org/non-profit/economic-policy-in... > These are the orgs who persistently try to sell trickle-down economics That's ironic, given that the phrase "trickle-down" was invented by leftists as a marketing tactic: https://www.aei.org/carpe-diem/thomas-sowell-on-the-trickle-down-myth-workers-are-always-paid-first-and-then-profits-flow-upward-later-if-at-all/ https://www.aei.org/carpe-diem/thomas-sowell-on-the-trickle-... > low regulation Well, we can agree on that one at least. > and other discredited, disastrous, and irrational neoliberal policy argument Never mind. I guess we have nothing to agree on. > Many are also enthusiastic climate change denialists. You're clearly influenced by the outputs of a propaganda industry, not the outputs of credible independent research. See what I did there? I'll even one-up you with some links: https://www.amazon.com/Unsettled-Climate-Science-Doesnt-Matters/dp/1950665798 https://www.amazon.com/Unsettled-Climate-Science-Doesnt-Matt... https://www.amazon.com/Apocalypse-Never-Environmental-Alarmism-Hurts/dp/0063001691 https://www.amazon.com/Apocalypse-Never-Environmental-Alarmi... https://www.amazon.com/Fossil-Future-Flourishing-Requires-Gas-Not-ebook/dp/B098M3Y7VC?ref_=ast_author_dp https://www.amazon.com/Fossil-Future-Flourishing-Requires-Ga...
  - DeathArrow 4y ago
    Your arguments don't matter. If you aren't a leftist you are uncool in this day and age.
- DeathArrow 4y ago
  You forgot to say they are racists and nazis. How about giving some arguments?
mixmastamyk 4y ago
When Volcker was appointed by Carter. Also oil prices had been dropping for several years.
- PathOfEclipse 4y ago
  https://reason.com/2022/10/13/inflation-remixed/ https://reason.com/2022/10/13/inflation-remixed/ Inflation in 1980, when Carter's presidency ended, was at 12% YoY, the highest they'd ever been in his entire presidency. Rising oil prices were not the only, or even primary, cause of inflation. From the article: "In the early 1960s, a pair of Nobel Prize–winning economists, Paul Samuelson and Robert Solow, argued that in order to keep unemployment around 3 percent, U.S. policy makers should be willing to accept that "the price index might have to rise by as much as 4 to 5 percent a year. That much price rise would seem to be the necessary cost of high employment." Both economists were close to Kennedy, who pushed for low interest rates, hoping to spur rapid economic growth." This idea turned out to be false. Also from the article: "In the early 1960s, a pair of Nobel Prize–winning economists, Paul Samuelson and Robert Solow, argued that in order to keep unemployment around 3 percent, U.S. policy makers should be willing to accept that "the price index might have to rise by as much as 4 to 5 percent a year. That much price rise would seem to be the necessary cost of high employment." Both economists were close to Kennedy, who pushed for low interest rates, hoping to spur rapid economic growth." This turned out to be true. And, lastly: "In the 1970s, that is exactly what happened in the American economy, often by design. As Frum wrote, "The United States had consciously chosen to inflate its currency. It made that choice because of the political ideology and personal weakness of the men entrusted with the job of managing the American economy: their utopianism, their arrogance, and then finally their cowardice." The inflation that vaulted Reagan into office was not an accident or an incidental effect of policy. It was the result of deliberate policy choices."
  - mixmastamyk 4y ago
    As I said. Took several years and Volcker was appointed late '79. To R's credit, he didn't get in the way of that part. Although tax cuts don't help inflation so wasn't a clean assist. He also vastly increased govt spending later in his term, despite the common narrative about being frugal.

dumpsterlid 4y ago

[dead]

TheOtherHobbes 4y ago

You're quoting the outputs of a propaganda industry, not the outputs of credible independent research. These are the orgs who persistently try to sell trickle-down economics, minimal taxation, low regulation, and other discredited, disastrous, and irrational neoliberal policy arguments. Many are also enthusiastic climate change denialists.

PathOfEclipse 4y ago
> You're quoting the outputs of a propaganda industry, not the outputs of credible independent research. One man's propaganda is another man's truth, and vice versa. Do you really think the EPI is credible? https://www.influencewatch.org/non-profit/economic-policy-institute/ https://www.influencewatch.org/non-profit/economic-policy-in... > These are the orgs who persistently try to sell trickle-down economics That's ironic, given that the phrase "trickle-down" was invented by leftists as a marketing tactic: https://www.aei.org/carpe-diem/thomas-sowell-on-the-trickle-down-myth-workers-are-always-paid-first-and-then-profits-flow-upward-later-if-at-all/ https://www.aei.org/carpe-diem/thomas-sowell-on-the-trickle-... > low regulation Well, we can agree on that one at least. > and other discredited, disastrous, and irrational neoliberal policy argument Never mind. I guess we have nothing to agree on. > Many are also enthusiastic climate change denialists. You're clearly influenced by the outputs of a propaganda industry, not the outputs of credible independent research. See what I did there? I'll even one-up you with some links: https://www.amazon.com/Unsettled-Climate-Science-Doesnt-Matters/dp/1950665798 https://www.amazon.com/Unsettled-Climate-Science-Doesnt-Matt... https://www.amazon.com/Apocalypse-Never-Environmental-Alarmism-Hurts/dp/0063001691 https://www.amazon.com/Apocalypse-Never-Environmental-Alarmi... https://www.amazon.com/Fossil-Future-Flourishing-Requires-Gas-Not-ebook/dp/B098M3Y7VC?ref_=ast_author_dp https://www.amazon.com/Fossil-Future-Flourishing-Requires-Ga...
- DeathArrow 4y ago
  Your arguments don't matter. If you aren't a leftist you are uncool in this day and age.
DeathArrow 4y ago
You forgot to say they are racists and nazis. How about giving some arguments?

mixmastamyk 4y ago

When Volcker was appointed by Carter. Also oil prices had been dropping for several years.

PathOfEclipse 4y ago
https://reason.com/2022/10/13/inflation-remixed/ https://reason.com/2022/10/13/inflation-remixed/ Inflation in 1980, when Carter's presidency ended, was at 12% YoY, the highest they'd ever been in his entire presidency. Rising oil prices were not the only, or even primary, cause of inflation. From the article: "In the early 1960s, a pair of Nobel Prize–winning economists, Paul Samuelson and Robert Solow, argued that in order to keep unemployment around 3 percent, U.S. policy makers should be willing to accept that "the price index might have to rise by as much as 4 to 5 percent a year. That much price rise would seem to be the necessary cost of high employment." Both economists were close to Kennedy, who pushed for low interest rates, hoping to spur rapid economic growth." This idea turned out to be false. Also from the article: "In the early 1960s, a pair of Nobel Prize–winning economists, Paul Samuelson and Robert Solow, argued that in order to keep unemployment around 3 percent, U.S. policy makers should be willing to accept that "the price index might have to rise by as much as 4 to 5 percent a year. That much price rise would seem to be the necessary cost of high employment." Both economists were close to Kennedy, who pushed for low interest rates, hoping to spur rapid economic growth." This turned out to be true. And, lastly: "In the 1970s, that is exactly what happened in the American economy, often by design. As Frum wrote, "The United States had consciously chosen to inflate its currency. It made that choice because of the political ideology and personal weakness of the men entrusted with the job of managing the American economy: their utopianism, their arrogance, and then finally their cowardice." The inflation that vaulted Reagan into office was not an accident or an incidental effect of policy. It was the result of deliberate policy choices."
- mixmastamyk 4y ago
  As I said. Took several years and Volcker was appointed late '79. To R's credit, he didn't get in the way of that part. Although tax cuts don't help inflation so wasn't a clean assist. He also vastly increased govt spending later in his term, despite the common narrative about being frugal.