The Times of India, for some time now, has been arguing that the current inflationary spiral in India is caused by supply problems. They have repeated the argument again, in an editorial. Actually, the only cause of inflation is bad money. Inflation is a disease of the monetary system. There is only one cure: Sound Money.
What’s that? Read my “Funny Money: We Don’t Need A Central Bank” that was published in the Times of India a while back. All the arguments still stand – and will forever continue to do so.