Economists know that inflation is particularly damaging to the poor. Inflation disproportionately affects the poor because they are least able to hedge against increasing fuel and food prices. Why does this administration continue to engage in practices that encourage inflation? They push artificial increases in energy prices (for ecological reasons) and artificial increases in labor costs (both forced wage increases and healthcare cost increases). Plus they encourage food price increases specifically by promoting the use of food crops for costly energy substitution. I sometimes wonder if the folks advising this administration have even a basic understanding of economics.
Posted on: Sat, 19 Apr 2014 23:28:40 +0000
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