>>510146638
the problem isnt that you are wrong, since you are correct in stating that increase in money supply leads to general increase in prices.
but that is not the only factor in inflation, as anything that increases general prices leads to inflation.
let me demonstrate it with an example:
whether you think that its right or not, many people get many of their daily calories from non-essential food items like snacks and sodas, if those non-essential items were to disappear, it would lead to general inflation for food items.
why? because the calories that usually came from snacks will have to come from the other food items, leading to increase in demand.
tariffs also lead to general reduction in productivity, comparative advantage describes the issue, where you are forced to produce things that are simply not viable or competitive due to some limitations in your country(policy, ecology, technology, etc.).
a self-sufficient society is possible especially in a country like the US, but to say that it wont only lead to good outcomes, but better outcomes than a country that is globally integrated is questionable.
t. WTO's strongest warrior.
