Ask Prof Wolff: Inflation's Risks

A patron of Economic Update asks: "If there is a relationship between inflation and the capacity of a country to absorb newly printed money, how do international markets affect inflation since dollars are used around the world and some of the new money would make it to the world in general? Is the dollar less prone to inflation because dollars are used around the world? If so, is there a measure of inflation resistance for different currencies to get an idea where the dollar stands vs other currencies?"

This is Professor Richard Wolff's video response.

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“A magnificent source of hope and insight.”
Yanis Varoufakis
Greek economist, academic, philosopher, politician, author of Talking to my daughter about the economy

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Showing 2 comments

  • Steve Greenberg
    commented 2021-05-16 13:01:10 -0400
    I don’t know where that previous comment came from. I meant to say that you forgot supply disruptions as a cause for inflation. When workers are forced to stay home because of Covid-19 lock downs, they cannot produce the goods needed to fulfill the demand. As an example, the electric backup generator I just ordered will not be delivered for 6 months because of a backlog at the factory. Fortunately, the company has not decided to raise prices yet.
  • Steve Greenberg
    commented 2021-05-16 11:12:01 -0400
    You forgot to mention the crippling sanctions the USA is imposing on Venezuela in order to destroy its threat to capitalism (or is it just a threat tuo ISA hegemony?)

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