What can we learn from monetarists about what happened to prices after the Covid-19 pandemic struck? What can we learn from the mistakes made in the 1970s? The purpose of posing these questions is to inject humility into current debates, especially among central bankers. Their failure to forecast, or prevent, the big jumps in price levels of recent years is significant. So, why did it happen and what might history suggest about the mistakes still to come?
关于新冠疫情爆发后物价的变化,我们可以从货币主义者那里获得哪些启示?我们可以从20世纪70年代所犯的错误中汲取什么教训?提出这些问题的目的,是希望让当前的辩论多一点谦卑,尤其是让央行行长圈的辩论多一点谦卑。他们未能预测或阻止近年来价格水平的大幅上涨,这是明显的失败。那么,失败的原因是什么?对于未来可能还会出现的错误,历史会带给我们哪些启示?
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