A Walmart employee stocks shelves in a newly opened Walmart Neighborhood Market in Chicago in 2011. (Jim Young/Reuters) A genuinely conservative economic policy would address risk in the only reliable way we know how: by exercising thrift, prudence, and restraint.
NRPLUS MEMBER ARTICLE T he times are frothy. The markets are frothy. Politics is frothy. If there’s anything we have in abundance, it is froth: The price of that isn’t going up.
Inflation really means an artificial increase in the money supply beyond what is demanded by economic growth, though we mostly use it to mean a general rise in consumer prices. And it is sometimes useful to keep that distinction in mind: For example, there is some reason to think that years of efforts at economic stimulus have, by flooding the U.S. economy with cheap money, contributed to skyrocketing prices for …
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