, Columnist
A Little Inflation Is Good for the Conservative Cause
Not only do higher prices reduce the relative value of government debt, they may also make the economy more dynamic.
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For conservatives, current high rates of inflation should not be too upsetting — and not because they might help Republican candidates in the next election. Rather, there are intrinsic reasons that higher inflation, at least for a while, might not be as bad as it looks.
I myself am not happy about an inflation rate of 4% to 5%, which seems embedded in the economy right now. Yet on reflection I am less concerned than I was initially.