Thursday, 30 March 2017

Steve Hankie on hyperinflation

From David Beckworth’s podcast series, Macro Musings comes this audio of an interview with Steve Hankie on hyperinflation.
Steve Hanke is a professor of applied economics and co-director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise at The Johns Hopkins University in Baltimore. He is also a senior fellow and director of the Troubled Currencies Project at the Cato Institute. Steve joins the show to discuss his work on the history of hyperinflations. David and Steve discuss what exactly constitutes hyperinflation as well as historical examples of hyperinflation from 1940s Hungary to present-day Venezuela.


JC Wandemberg said...

Yes indeed, the best way for developing economies to avoid hyperinflation is to officially adopt the Euro or US dollar. Why would a country let historically incompetent drivers take over the wheel of their economy when they could have Vettel taking them to pole position!?
The only explanation, of course, is bad intentions, namely, robbing the people while filling their pockets. That's why corrupt politicians don't like official dollarization!

JC Wandemberg said...

Corrupt politicians invoke "patriotism" as the main reason to keep the domestic currency and poorly educated societies fall for it!