What John Oliver Gets Right (and Wrong) about Inflation

Source: Foundation for Economic Education
by Jon Miltimore

“Funnyman John Oliver recently offered a confused message on what’s driving rent prices sky high. This week he moved onto inflation, and his analysis was much sounder — though he still made one critical mistake. The British-American comedian and host of HBO’s Last Week Tonight with John Oliver begins by noting everyone is pointing fingers over inflation. President Joe Biden blames Vladmir Putin. Republicans are blaming Joe Biden and his Build Back Better spending agenda. Democratic lawmakers Sheila Jackson Reid and Elizabeth Warren say it’s ‘corporate greed,’ while other commentators have cited supply chain disruptions. … he largely gets the basics of inflation correct. ‘Too much money chasing a limited supply of goods can lead to inflation,’ he says. … Oliver’s segment is funny and even informative in some ways. He goes off the rails though in a few ways.” (08/04/22)