Why did inflation surge across the world after COVID? And what role do governments and central banks really play?
In this interview with the Institute of Public Affairs, leading economist John Cochrane, Senior Fellow at the Hoover Institution and Professor at Stanford explains the real drivers of inflation, the limits of central bank power, and why government deficits matter more than many economists admit.
Cochrane argues that inflation is not simply a monetary phenomenon but a fiscal one, driven by governments spending trillions with no credible plan to repay the debt. He also discusses the relationship between governments and central banks, the future of fiat currencies, the global debt problem, and the economic forces shaping the next financial crisis.
This wide-ranging conversation also covers housing prices, AI and productivity, government debt, and why long-term economic growth ultimately depends on free markets, innovation, and productivity.
Featuring:
- John Cochrane — Hoover Institution, Stanford Graduate School of Business
- Interview with the Institute of Public Affairs (IPA)
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