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This is an excellent article. It is well written, relatively easy to follow, and the explanations are well supported by data. Cheers to the author.


"Gell Mann Amnesia" applies here, and it would have been a much better article if it critically examined the genuinely interesting hypothesis that oligopoly power is a major factor in [specific instances of] inflation instead of spending most of it demolishing "silly economists haven't realised that relative prices also change" straw men.

(Especially since the silly economists actually have lots of theories about how specific instances of inflation are driven by dynamics of one particular sector like fuel prices to test against the "oligopoly" theory)




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