PARIS (AFP) - A resurgence in worldwide inflation in the past several months has been principally powered by rises in the price of food and energy, exacerbated by galloping demand in fast-growing emerging market countries.How would the author explain the fact that if consumers pay more for food and energy they will have less money to spend on other products. An increase in the price of some goods can therefore not cause overall prices to increase.
See Inflation in One Page by Henry Hazlitt FROM The Freeman
