Chapter
The Problem of Inflation and Price Controls
1:39:33 - 1:47:30 (07:57)
Inflation is caused by an increase in the supply of money while the supply of goods and services remains the same. Attempts to fix the problem of inflation with price controls usually make things worse.
Clips
This podcast discusses how the manipulation of printing money to buy bonds was a major driving force for Britain's involvement in World War I and how the war had no real value for the British people, leading to a disastrous 20th century.
1:39:33 - 1:44:37 (05:04)
World War I
Summary
This podcast discusses how the manipulation of printing money to buy bonds was a major driving force for Britain's involvement in World War I and how the war had no real value for the British people, leading to a disastrous 20th century.
ChapterThe Problem of Inflation and Price Controls
Episode#284 – Saifedean Ammous: Bitcoin, Anarchy, and Austrian Economics
PodcastLex Fridman Podcast
Inflation can lead to higher prices and the government's attempts at controlling prices can lead to even worse economic problems.
1:44:37 - 1:47:30 (02:52)
Inflation
Summary
Inflation can lead to higher prices and the government's attempts at controlling prices can lead to even worse economic problems. This historical example of the Bank of England during World War I highlights the issues with fiat currency.