“Supply Bottlenecks” as an Excuse for Inflation

Source: Ludwig von Mises Institute
by Daniel Lacalle

“The history of money since the Roman Empire always tells us the same thing. First, money is aggressively printed with the excuse that ‘there is no inflation.’ When inflation rises, central banks and governments tell us that it is ‘transitory’ or due to ‘multicausal’ effects. And when it shoots up, governments present themselves as the ‘solution’ imposing price controls and restrictive measures on exports. It is not a theory. All of us who have lived in the seventies know it.” (06/08/21)