[Joseph E. Stiglitz] Why the Inflation Reduction Act matters
ViewpointsAug 10, 2022
US Senate Democrats’ compromise bill, the Inflation Reduction Act of 2022, addresses not just inflation, but also several key longstanding problems facing our economy and society. There is a simmering debate about the causes of today’s inflation; but regardless of what side one takes, this bill represents a step forward. For those worried about excessive demand, there is more than $300 billion in deficit reduction. And on the supply side, the bill would mobilize $369 billion of inv