Henry Hazlitt absolutely was correct when he wrote in Economics in One Lesson that every generation must learn anew the harsh lessons of seeking the inflation “cure.” The Financial Times covers Ben Bernanke with adulation that would have made Caligula blush, claiming that the heroic “helicopter Ben” has saved the economy through inflation. Thus, he has not become “lawnmower Ben” who would be “shredding the green shoots of the recovery.” Because the U.S. economy has not seen official double-digit inflation for more than 30 years, people forget the damage that inflation does, and how it does not bring about economic … Continue reading The Maddening Financial Times: Inflation Is Our God and Bernanke is His Holy Prophet