Inflation and economists

It is to be hoped that the economists the Government is relying on for policy advice are better acquainted with the economics of the real world than those quoted in Rob Stock's article ‘‘Job losses key to taming inflation'' (Waikato Times, September 23, 2022, P8).

The economists quoted have forgotten one of their lessons in ECON101, viz, that a major cause of inflation is too much money chasing too few goods.

They are indulging the reprehensible practice of blaming the victim instead of the perpetrator.

Those in the lower 25% of the economy do little to push up prices because they have so little influence in the market place.

Shouldn't those who are well off and can afford to pay whatever they like for everything they want, be responsible for inflation?

Putting those at the bottom who have no discretionary spending into unemployment is not going to fix inflation. And it is not going to improve our social well-being or the Government's welfare expenditure either.

Keith Ross, Hamilton