- September 17, 2022
- Posted by: Stratford Team
- Category: Economy
Not only are you paying more for stuff than a year ago, but the consistently higher-than-expected readings in the Consumer Price Index continue to devastate the stock market, sending the S&P 500 down over 1,000 points on Tuesday, its worst day since June 2020.
One of America’s top financial historians says this moment calls for a lesson in economics.
“The reopening inflation we’ve had has so far been a very good thing,” Brad DeLong, a professor at UC Berkeley, told Fortune. His comments contradict the more hawkish stance on inflation famously championed by Harvard economist Larry Summers, who worked alongside DeLong in the Department of the Treasury during the Clinton administration.
DeLong argues that there is a major economic shift taking place that people should welcome. It all has to do with our strange but kind of wonderful post-pandemic economy.
The Zoom world
The new economy, DeLong says, is one with more time spent…
