What Drives Inflation Now? A Clear Explanation Using Mervyn King, John Cochrane, Stephen Miran and Kevin Warsh’s Competing Ideas
This article simplifies a subject economists have turned into a maze. Inflation is not just a number on a chart. It is a mechanism of power that decides who pays when governments over promise and overspend. We walk through Mervyn King’s warning, John Cochrane’s fiscal theory, and the rival stories told by Stephen Miran, Kevin Warsh and Christopher Waller.