Expectations, Lucas critique and price-level targeting

People hate inflation. It undermines faith in the government so people obstruct policies that require faith in the state, like nuclear power, and in democracies it drives them to vote for extremist parties. Ben and Pieter sit down with economic historian Mark Koyama and discuss the fallout of historical inflation crises from the Roman Empire to Weimar Germany. Ben reveals his hidden libertarian 'Gold Bug' tendencies.