Cash or Crash: Inflation in Ancient China

Today we discuss how unfettered imperial seigniorage broke economies and even dynasties in ancient China Inflation is a big concern for consumers and policymakers in major economies today. In the US, the consumer price index rose by 6.8 percent in 2021, the highest in nearly 40 years. In China, although the consumer price index, an indicator of inflation, only saw a mild increase of 0.9 percent in 2021, the producer price index rose by 8.1 percent. This rising cost of manufacturers may get pa...