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Politics : The Trump Presidency
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To: koan who wrote (255222)10/24/2022 8:30:27 PM
From: i-node  Read Replies (1) of 360259
 
You are conflating scarcity with inflation. They can appear related to economically ignorant observers.

Scarcity results from a fall in production; the price of fried chicken goes up because we aren’t making as many chickens. Yet, Tyson is still grinding out chickens at the same pace it was before.

Inflation is a monetary phenomenon. Scarcity has to do its supply and demand for goods.
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