Well, you could see this one coming from miles away. What’s that? Nobel economists using the GOP’s new definition of “inflation” to critique Donald Trump’s future policies. Of course, it’s easy for the left to use the GOP’s new definition since it has long been their own.
For background, government spending doesn’t cause inflation, or what some on the left (and now right) imagine inflation to be. Members of the left have long asserted that government spending instigates greater growth and higher inflation as redistributed wealth “puts money in people’s pockets” on the way to rising demand and higher prices.
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