it really broad because your book obviously is about pressing topic of the day inflation and you define inflation a little bit differently in the book then it s traditionally i think talked about here in america, and i wonder if you could just go through your definition and how how it differs from other definitions. well really as we explained in the book, there are two kinds of inflation non-monetary and monetary the non-monetary kind which affects prices would be an event like such as a drought or the lockdowns that we had during covid or the war now undergoing in ukraine, which is affecting food supplies and energy supplies those kinds of events can send up prices. we underestimated for example with the covid lockdowns how intricate those supply chains were and have huge disruption sending up prices. those are the non very kind of inflation though if they have authorities allow it will eventually work itself out after world war two for example the us economy. we forget it
is traditionally come that this talk latin america and when you go through yourr definition and how it differs from other definitions? guest: : thwell, really as we explain and book are two kinds of inflation, nonmonetary and monetary. theou nonmonetary kind which affects prices will be an event like such asoc the drought or te lockdown we had during covid or the war now we are undergoing in ukraine which is affecting food supplies and energy supplies. those can send a prices. we underestimated come for example, with the covid lockdown how intricate though supply chains were, and had huge disruptions sending a prices. those of the nonmonetary kind of inflation though, will eventually work itself out. ii come forwar example, the u.s. f economy, we forget it today, underwent a huge transformation from wartime economy to a peacetime economy. n results when governments or central banks create too much money undermine the value of their currency which leads to all usually rising
ukraine affecting putin and energy supplies. those events can send a prices. we underestimated for example with the covid lockdowns how intricate the supply chains were and had huge disruptions spending up prices. those kind of inflation, if authorities allow it will work itself out after world war ii for example, u.s. economy we forget it today under a huge transformation for peace time economy, making cars, those things you don t do overnight. the monetary inflation results when governments, central banks create too much money undermines the value of their currency. usually rising prices, that is the more ominousee dangerous tis because people to understand why prices seem to be going up for no real reason. t also political and social problems as we explain in the book. okay, interesting, and i wonder if you could talk a little bit about how that differs from. i think the way that we traditionally talk about inflation, especially sort of in the central banking universe, whi
hi mr. forbes. thank you so much for taking the time to do this interview. i wonder if we could just start it really broad because your book obviously is about pressing topic of the day inflation and you define inflation a little bit differently in the book then it s traditionally i think talked about here in america, and i wonder if you could just go through your definition and how how it differs from other definitions. well really as we explained in the book, there are two kinds of inflation non-monetary and monetary the non-monetary kind which affects prices would be an event like such as a drought or the lockdowns that we had during covid or the war now undergoing in ukraine, which is affecting food supplies and energy supplies those kinds of events can send up prices. we underestimated for example with the covid lockdowns how intricate those supply chains were and have huge disruption sending up prices. those are the non very kind of inflation though if they have authori
how how it differs from other definitions. well really as we explained in the book, there are two kinds of inflation non-monetary and monetary the non-monetary kind which affects prices would be an event like such as a drought or the lockdowns that we had during covid or the war now undergoing in ukraine, which is affecting food supplies and energy supplies those kinds of events can send up prices. we underestimated for example with the covid lockdowns how intricate those supply chains were and have huge disruption sending up prices. those are the non very kind of inflation though if they have authorities allow it will eventually work itself out after world war two for example the us economy. we forget it today under what a huge transformation from a wartime economy to a peacetime economy for making tanks to making cars those things you don t do overnight eventually the price situation settles down the monetary kind of inflation results when governments or central banks creat