28
Dec
With inflation reaching the highest rate in 40 years and a recession looming, what happened to the US economy to create this situation, and what can we expect of the future? There are many theories about the causes of inflation. A very basic formula put forth by famed economist Milton Friedman posits that “Inflation is caused by too much money chasing after too few goods.” This article will use Friedman’s formula as a basic framework for looking at the current causes of inflation and then attempt to integrate economic perspectives from various schools of thought, including Modern Monetary Theory (MMT).…
