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Why inflation could be on the way back

A book just out is crying wolf insistently. Notably, it states that, as a result of today’s fiscal and monetary largesse, “as in the aftermath of many wars, there will be a surge in inflation, quite likely more than 5 per cent, or even on the order of 10 per cent in 2021”. 

That would change everything.

The prediction comes from The Great Demographic Reversal by Charles Goodhart, a respected academic, and Manoj Pradhan, formerly at Morgan Stanley

Martin Wolf 17 November 2020



Ten ways coronavirus crisis will shape world in long term

Intervention by the fiscal and monetary authorities has been unprecedented in peacetime, especially in countries with internationally accepted currencies.
Some countries have shown effective responses to the crisis, while others have not. Whether a country is democratic or not has not determined this difference. Part of what does is whether the government cares about its effectiveness. 

Martin Wolf 3 November 2020

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