Price Revolutions and the Rhythm of History

Reposting a prior summary of David Hackett Fischer’s The Great Wave. Seems an awfully timely story, especially the lead up to the fourth (current) wave, with all the references to stagflation towards the end of each wave:

The book is an 900-year history of inflation. Three hundred pages in 35 minutes, with as much of the author’s original work quoted or referenced as possible. Learn the recurring themes in all Four Waves starting in the 12th century and ending (but not really) in the 20th century. Demand-side shocks, supply-side shocks, wages initially keeping up with inflation, then real wages falling, creating unsustainable inequality. Is there anything new under the sun? Not pandemics, climate volatility, or war. Listen and find out about the recurrence of stagflation, the importance of inflation expectations, and where we are in the Fourth Wave. The third installment in our Inflation Series, starting with the Feb 1 Morning Kick, continued in the March 4 Weekend Kickoff, and ending with this summary of The Great Wave, which you can buy here. Follow us on Twitter and Linkedin.