I am always amazed how many people today confuse inflation with price fluctuations resulting from supply and demand. We heard this a lot at the Democrat’s convention. I don’t know if it is simple ignorance or an intentional diversion to pass off government-caused inflation as the nonsense they call corporate greed.
I took Economics 101 in college, and although I am a scientist, I thoroughly enjoyed it. I wasn’t smart enough to realize it then, but I was given a great gift I now appreciate daily. I took the course only by accident because I needed one social science class to complete a chemistry degree, and Econ 101 finished up the earliest in the afternoon, leaving plenty of time for research!
So, although I am only an amateur economist, I will give it a shot. And since I am not an academic economist, I will do it without charts, tables, or math.
American Thinker
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