Where’s The Beef? (Part 2)

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Inflation is caused by government spending, borrowing and money-printing. That’s it.

Everything else is relative price change. The latter, of course, refers to Mr. Market at work, causing some prices to rise and others to fall and demand and supply balances to shift around in an endless ballet of adjustment and resource re-allocation.

Needless to say, both wings of the UniParty hate that truth because it puts a thundering ixnay on their modus operandi. So in order to spend, borrow and print with political impunity, they invent bogus alternative explanatory theories in order to confuse the voters about their own culpability for the inflation that eats away at main street America’s paychecks and savings accounts.

In this context, the Democrats of yore never hesitated to trot out the ogre of Big Business and alleged monopolistic prices. In the most recent times, the Biden Administration launched yet another investigation of alleged monopolistic price gouging virtually every time monthly inflation readings took a turn for the worse.

Of course, this price gouging charge is a lie almost always and everywhere. That’s because honest academics at the University of Chicago and elsewhere decades ago proved with logic, analysis and empirical data that the only sustainable monopolies have been government sanctioned and enforced cartels.