Source: Ludwig von Mises Institute
by Connor O’Keeffe
“[M]ost of the discourse about the economic impacts of the war has focused on the rising prices drivers are facing at the gas pump. That isn’t surprising, as gas prices are an early cost that impact consumers directly. But the emphasis on pain at the pump threatens to badly understate the economic damage of this war. And it helps feed the false impression that, if this new attempt at a ceasefire holds and the war ends somewhat quickly, gas prices will fall back down as fast as they rose, and then all the global economic turmoil the world’s been worrying about will be avoided. It won’t. A lot of economic pain has already been locked in by this war. But to really understand it, it’s necessary to keep a few important economic truths at the front of our minds.” (04/08/26)
https://mises.org/mises-wire/economic-destruction-trumps-war-goes-far-beyond-high-gas-prices