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The Great Myth of the Inflation Cure

Emmet Wrote: Aug 28, 2012 6:02 AM
Price increase is the cause of inflation. That's a popular socialist mantra. And the media happily reiterated that mantra, because it needs little to no amount of intellectual. We must hammer it again and again that it's a fallacy, that the truth is the other way around, that it is inflation which caused price increase. You don't play snow BECAUSE you have pneumonia. You get pneumonia BECAUSE you play snow.

Parents probably dream of sending their kid to the University of Chicago. Next to the Ivy League or Stanford, the Chicago school is near the top of the heap. Only 27 percent of applicants are admitted. To be among the roughly 15,000 means prestige and an education to build a lifetime on. The cost for tuition and fees: $39,381. Room and board is another $12,000 or so. Add books and other stuff, and the total Chicago-school experience costs $54,290 a year.

Students learn from the likes of University of Chicago economics professor Casey B. Mulligan, who believes what the economy...

Related Tags: Inflation