Opinion: A revolution on the supply side is needed to defeat inflation without crushing the global economy
MILAN, Italy (Project Syndicate) entCentral banks’ efforts to contain high and rising inflation are fueling headwinds to growth and are threatening to tip the global economy into recession. But the proximate cause of today’s inflationary pressures is a large, broad-based, and persistent imbalance between supply and demand. Higher interest rates will dampen demand, but supply-side…