Awesome article. I did have another question (which is one I’ve encountered several times online by people who disregard the role of supply). That being: why didn’t real output fall over the past couple years of elevated inflation? Or; how can more be consumed if less was supply was available?
Awesome article. I did have another question (which is one I’ve encountered several times online by people who disregard the role of supply). That being: why didn’t real output fall over the past couple years of elevated inflation? Or; how can more be consumed if less was supply was available?