Joseph E. Stiglitz and Dean Baker for PS on Point: Inflation Dos and Don'ts

Joseph E. Stiglitz and Dean Baker argue that the problem is on the supply side and that policymakers should look there for solutions. [View this message in a web browser]( [PS On Point]( JULY 8, 2022 Most commentators on both the left and the right believe that US interest rates should be increased, but not by more than is needed to achieve a soft landing. But, because interest-rate hikes achieve their intended outcome by curtailing demand, they don’t “solve” inflation arising from supply shocks, note Nobel laureate Joseph E. Stiglitz and Co-Director of the Center for Economic and Policy Research Dean Baker. [Read more](. On Point [Inflation Dos and Don'ts]( [Inflation Dos and Don'ts]( By Joseph E. Stiglitz and Dean Baker Today's inflation is driven largely by supply-side constraints, which call for supply-side solutions. Such measures would do as much to tame higher prices as limited increases in interest rates would, and they would not come at the expense of American workers and the broader economy. [Read more]( [Subscribe to PS Premium now.]( The Big Picture [Anti-Democracy in America]( [Anti-Democracy in America]( with George Soros, Antara Haldar, Peter Singer, and more The United States’ culture wars and political polarization are intensifying in the wake of a Supreme Court term studded by a series of controversial landmark decisions. Are the Court’s critics justified in claiming that a right-wing legal insurgency threatens individual rights and even American democracy itself? [Read more]( Previously in On Point [Writing Off Russia]( Marci Shore interviews Volodymyr Rafeyenko According to the writer Adam Gopnik, "We breathe in our first language and swim in our second." But for many Russophone Ukrainians, the war against their country that Russia launched in 2014 and escalated in February has meant confronting the moral and political imperative of learning to breathe anew. [Read more]( [Contributor book recommendations and more, only in the Read More newsletter. Sign up now.]( [Facebook]( [Twitter]( [LinkedIn]( Project Syndicate publishes and provides, on a not-for-profit basis, original commentary by the world's leading thinkers to more than 500 media outlets in over 150 countries. This newsletter is a service of [Project Syndicate](. [Change your newsletter preferences](. Follow us on [Facebook]( [Twitter]( and [YouTube](. © Project Syndicate, all rights reserved. [Unsubscribe from all newsletters](.