Comment by lovich 4 days ago
You’re arguing that tariffs aren’t inflationary by bringing up other events affecting the economy, which I agree with ‘hypeatei needs explaining, but even assuming those do offset the tariffs you’re still incorrect.
Tariffs definitionally are inflationary.
> Tariffs are price increasing (colloquially "inflationary"), but not definitionally inflationary in the economic meaning. Look it up.
Weird (okay, not all that weird, but ironic, in context) thing to be confidently incorrect about.
Outside of the overtly ideology-over-description Austrian School of economics, which has a different jargon designed to advance their ideology, the general definition of (unqualified) inflation in economics is a sustained increase in general price levels.
And belief that the Austrian School usage is just the “economic meaning” is a pretty good sign that someone doesn't understand even Austrian School economics beyond rote recitation of doctrines and aphorisms.
No, we do not agree.
The introduction of tariffs does, assuming no additional countervailing policy changes, result in sustained general price increases. (Over time, adaptation to the tariffs will, in cases where there aren't hard reasons preventing this, become more diffuse across products than they are initially at introduction, but the net long-term effect is still a general price increase.)
>You’re arguing that tariffs aren’t inflationary by bringing up other events affecting the economy
Huh? You're not reading what I said and instead are relying on accusations. It's also weird to say direct behaviors triggered by tariffs don't play into realized inflation. That's mental gymnastics.
>Tariffs definitionally are inflationary.
No. Weird thing to be confidently incorrect about. Tariffs are price increasing (colloquially "inflationary"), but not definitionally inflationary in the economic meaning. Look it up.