These days, pundits are talking a lot about rising prices and specifically, inflation. And it’s true prices at the grocery store have been increasing, and that consumer sentiment has been low. That leaves questions about how we should interpret inflation, and how much it has to do with increasing wages.
“If you want to solve U.S. inflation, you want to think about vaccinating the rest of the world.” — Justin Wolfers, professor of public policy and economics at the University of Michigan’s Ford School
Listen: Economists on inflation and how to solve it.
Guests
Justin Wolfers is a professor of public policy and economics at the University of Michigan’s Ford School. Wolfers says that the pandemic has created supply shortages because the global vaccination rate is too low. “If you want to solve U.S. inflation, you want to think about vaccinating the rest of the world,” he says.
Charles Ballard is a professor of economics at Michigan State University. Ballard says the minimum wage in the U.S. is so depressed it doesn’t create a price-wage spiral. “The minimum wage is so low. Even though the minimum wage in Michigan is somewhat higher, it’s less than $10 an hour,” says Ballard.
Trusted, accurate, up-to-date.
WDET strives to make our journalism accessible to everyone. As a public media institution, we maintain our journalistic integrity through independent support from readers like you. If you value WDET as your source of news, music and conversation, please make a gift today.
"about" - Google News
February 09, 2022 at 04:11AM
https://ift.tt/GAHygXC
How concerned should we be about inflation? » WDET 101.9FM - WDET
"about" - Google News
https://ift.tt/uqIyOhf
Bagikan Berita Ini
0 Response to "How concerned should we be about inflation? » WDET 101.9FM - WDET"
Post a Comment