Inflation is a tax on the poor. High and variable inflation can shatter the fine interplay of incentives and information within an economy. And, as Milton Friedman famously said, inflation is always and everywhere a monetary phenomenon.
The state is responsible -- and the central bank's one job should be to keep inflation in check.
Thankfully, we got that right with inflation targeting.
Welcome to Episode 68 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.
In this episode, Ajay talks about why inflation can be such a problem, and Inflation Targeting is an elegant way to keep it under control. Ajay was in the policy community in India that made it happen. Here's the inside story!
TABLE OF CONTENTS:
00:00 Packaging
00:13 Intro: Ajay Loves Bumper Stickers!
00:55 Chapter 1: A Basic Guide to Inflation
05:40 Chapter 2: What Do You Measure?
13:25 Chapter 3: Why Inflation Matters
30:02 Chapter 4: Introducing Inflation Targeting
36:45 Chapter 5: Inside the Boiler Room
42:05 Chapter 6: The India Story
1:01:23 Chapter 7: Recommendations
For magnificent, detailed, juicy show notes, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠click here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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