Re:World food prices hit 10-year peak – FAO
by hn_throwaway_99 on Monday October 11, 2021 @01:44AM
(#28825107)
> When a very basic idiom taught in entry level economics proves true again and again, I'm not sure how much complexity is required to prove it false. At that point it just feels like fighting for the point of fighting.
Except "your basic idiom" actually turns out to not be true in a lot of cases. It turns out that when you look at cases of notable inflation, these are nearly always accompanied by substantial supply side shocks, and that's also happening now.
Except "your basic idiom" actually turns out to not be true in a lot of cases. It turns out that when you look at cases of notable inflation, these are nearly always accompanied by substantial supply side shocks, and that's also happening now.
For a good research article of a related example, see https://www.nber.org/system/files/chapters/c9160/revisions/c....