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The Free Press
‘That Doesn’t Feel Like $150 Worth of Groceries’
‘That Doesn’t Feel Like $150 Worth of Groceries’
Shoppers in Cambridge, Mass., in 1977. (Barbara Alper via Getty Images)
Why inflation is worse than you think.
By Samuel Gregg
05.05.22
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The Free Press
The Free Press
‘That Doesn’t Feel Like $150 Worth of Groceries’

In 2011, the last time inflation was on the rise, the then-president of the New York Federal Reserve, William Dudley, ventured into a working-class neighborhood in Queens, New York, to give a speech explaining why inflation wasn’t a big deal. Finding that he wasn’t making an impact, Dudley famously picked up an iPad 2 and told his audience, “Today you c…

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Samuel Gregg

Samuel Gregg is the author of 16 books. He writes regularly on political economy and natural law theory. His forthcoming book is The Next American Economy: Nation, State, and Markets in an Uncertain World (September 2022).

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Economics
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