Commentary
According to Bank of Canada governor Tiff Macklem, inflation is bad. And while no sum is too great to pay for such insights (in this case somewhere north of a third of a mill, plus benefits), when he says “Look, inflation’s too high and frankly Canadians should be asking us some tough questions” I do have one. What causes inflation?
The most important lesson history teaches, to those to whom it teaches anything, is that ideas matter more than anything else because if you don’t know where you’re going, you’ll probably end up somewhere else. Does appeasement or strength prevent aggression? Is the traditional family oppressive or invaluable? And yes, though superficially boring, what makes the general price level rise?…