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On last night's episode of The Ezra Levant Show, Spencer Fernando (@SpencerFernando on Twitter) joined Ezra to discuss his recent essay on inflation.

Here's a bit of what Spencer wrote on his site:

And, when we think about it, it makes perfect sense.

If an economy is flooded with money, while the supply of goods fails to increase by anywhere near the same proportion, then what do you end up with?

More money chasing fewer goods.

That makes each ‘unit’ of money worth less. This isn’t obvious to most people, because we rarely measure our dollars against anything else, other than what we want to buy with those dollars. So, a decline in the value of our individual monetary units appears to be an increase in prices, since you need more units to buy the same thing.

This is just an excerpt from the full Ezra Levant Show.

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