Isabella Weber on the Big Rethink of Inflation
Odd Lots
Bloomberg
4.4 • 1.6K Ratings
🗓️ 8 June 2023
⏱️ 51 minutes
🧾️ Download transcript
Summary
Earlier this year, Odd Lots talked about the idea of companies taking advantage of bottlenecks and other disruptions to raise their prices. Since then, the notion of this type of corporate-led inflation has burst into the public discourse with central bankers and politicians all taking a closer look. But how does this type of inflation differ from more traditional economic interpretations of prices, and what are the implications for monetary and economic policy? In this episode, we talk once again to Isabella Weber, the UMass-Amherst economics professor who dubbed this phenomenon "sellers' inflation" in a paper published earlier this year. She talks about how the way we think about inflation is changing and her own experience of seeing public attitudes shift in real time.
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| 1:09.8 | Hello and welcome to another episode of the Oddbottes podcast on Tracy Alloway. |
| 1:14.1 | And I'm Joe Wyzen's all. Joe, do you remember the episode we did? I think it was just a couple |
| 1:19.2 | months ago with the core boost strategist, Samuel Rines about companies are telling us the real |
| 1:25.8 | reason they're raising prices. Yeah, there was great episode that sort of helped me analyze corporate |
| 1:31.4 | earnings calls from Denon and really think about particularly in the consumer space where he had |
| 1:36.4 | this thesis that companies are very explicitly willing to sacrifice volume expansion in favor of |
| 1:42.2 | higher prices and higher margins. Right, he called it price over volume. And since that episode, |
| 1:48.0 | so we actually wrote an article based on that episode and we had a lot of quotes from Sam. |
| 1:53.5 | We also cited a research paper from an Oddbottes favorite Isabella Weber. And we talked about |
| 2:00.8 | this phenomenon. We called it excuse flation. So this idea that companies are using all these |
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