ECONOMISTS IN THE mass — as a profession, no less — have not covered themselves in glory in the early 2020s. Like everyone, they were caught off guard by Covid, but they blundered in their reaction to it. With few exceptions, they forecast that Covid-19 would lead to years of disinflation and perhaps even of deflation. Instead in 2022 inflation reached the highest levels for 40 years.
Yes, there were exceptions who — if I may say so — include the author of this column. Right from
