Not so long ago the world was worried about deflation, supposedly driven by low-cost imports from China, but also a stagnating economy driven by high levels of private debt. Now central banks are trying their hardest to bring down inflation, fearing without their expertise it will spiral out of control. So, will it? What caused it? And can we live with it? This week Phil and Steve look at the pros and cons of inflation and discuss whether it is here to stay.
Economics
Steve Keen – Coronavirus: Inflation or Deflation? Why we need a Modern Debt Jubilee Now
Everyone is fearful of inflation because this was pounded into their heads by politicians and mainstream media over decades. It is all they know. But as Steve Keen writes, it is all about debt deflation. […]
Geopolitics
John Mearsheimer, Daniel Davis – Playing Hard Ball w/Russia, Middle East Peace?
9 October 2025
Climate Crisis
Economics In Ten – E F Schumacher
‘A Study of Economics as if People Mattered’ was the subtitle of E F Schumacher’s most famous work, ‘Small is Beautiful’. It might seem jarring to non-economists that people might not “matter” in economic theory […]
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