In 90 secs Joseph E. Stiglitz explains what's causing inflation: "Neoliberalism has given full rein to the growth of market power," "Sectors of the economy where there is more market power, have had more inflation. We call it greedflation." On #QandA last night. #auspol

@JosephEStiglitz Nah.. just expanding your money supply by 20-30% in response to Covid… these word salad muppets haven’t got a clue.

@JosephEStiglitz Word salad. Pls define ‘Neoliberalism’, ‘Market Power’, and ‘Greedflation’, and how they each relate to the money supply. I’ll wait.

@JosephEStiglitz Occam’s razor and a basic economics textbook book say this guy is full of it.

@JosephEStiglitz "neoliberalism" is a meaningless perjorative, signals the end of serious economic debate. Initial inflation was RBA printing $450B. That 40% debase has largely flowed through. Latest inflation numbers shows the continuing contributors; everything but oil & insurance is govt 😳

@JosephEStiglitz Verifiable lie

@JosephEStiglitz And he nailed it ! I call it profits before people It’s the same mechanism that’s destroying our environment Not just here in Australia but worldwide Others like Jane Hume sitting next to him pretend it’s a good thing called trickle down economics 😳😳😳 #auspol 1/2

@JosephEStiglitz Sounds like he's really got it figured out.

@Julie28086389 @JosephEStiglitz Greedflation ✅ Yep. This is a perfect word for it. And the poorest are not only being made poorer but are not being looked after. Homelessness and hunger and lack of medical access and treatment - a contempt and disregard for those who have been so exploited and robbed. #auspol

@JosephEStiglitz Neo Marxist talks rubbish Money printing, energy prices and immigration has caused inflation

@JosephEStiglitz Yes and that’s about all he got on @QandA Shameful! #Auspol