Like austerity and recession, inflation is always voluntary on the part of the Government.
A sovereign state with its own free floating, fiat currency has as much of that currency as it chooses to issue to itself, with readily available fiscal and monetary means of controlling any inflationary effect.
Those means therefore need to be under democratic political control.
If only we had a Shadow Chancellor who understood this.
ReplyDeleteThey do. They just won't say. Not even John McDonnell ever quite did.
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