Marc Lavoie And Matias Vernengo — Thinking About Inflation
There were two talks on inflation in recent times by Marc Lavoie and Matias Vernengo on September 16th at the Fields Institute For Research In Mathematical Sciences in Canada.
Both authors highlight the shortcomings of orthodox explanations of the recent spike in inflation: the monetarist argument about expansion of the balance sheet of central banks, wage-price spiral, rise in demand etc. They also critique the argument about firms raising their markups and becoming more greedy, which many on the left seem to be putting forward. In their opinion—which I also agree with—it is mainly because of supply chains.
[The title is the link to the video]