There Are Better Ways for Societies to Address Inflation Than by Hiking Interest Rates

As usual, the profit-driven concerns of big business and their result—a remarkably selective historical amnesia—fuel the silence about alternative anti-inflation policies. So too do the right-wing ideological blinders that now constrict U.S. politics. Yet, policy alternatives always exist, no matter how desperately partisans promoting one policy seek to obliterate debate and discussion of others. The narrow dogmatism of U.S. politics these days is on full display around the issue of an anti-inflation policy focused on raising interest rates.