According to the world central banks, the reason the West has inflation is because of excessive demand. As a solution they hope to freeze wages and loosen job markets so more workers will be unemployed. Can you believe we have leaders of economic institutions that advocate for worker unemployment?
Michael Roberts’ argument is that inflation is driven by shortages in supply, not by excessive demand. He also argues that continuing to raise interest rates will result in a world slump, not a recession.
Michael Roberts’ argument is that inflation is driven by shortages in supply, not by excessive demand. He also argues that continuing to raise interest rates will result in a world slump, not a recession.
Read Michael Roberts
