Mateusz “Matt” Machaj holds a PhD in economics and is a Fellow with the Mises Institute, who has also won both the Douglas E. French and the Lawrence Fertig prizes in Austrian economics. He joins Bob to discuss his new booklet from Routledge, which explains how mainstream economists have responded to the recent bout of price inflation.
Dr. Machaj’s Monetary Policy and Inflation: https://Mises.org/HAP448a
Bob’s Book on MMT, Understanding Money Mechanics: https://Mises.org/HAP448b
Bob’s MisesU Lecture, “Price Inflation: Corona vs. QE”: https://Mises.org/HAP448c
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Chapters
00:00 Introduction
01:50 The Quantity Theory of Money
05:32 Do Increases in Money Supply Always Lead to Inflation?
18:44 Why Wasn’t There Inflation in 2009?
24:41 The “Money Multiplier” Model
42:33 What Austrian Economists See that Others Can’t