More Ron Paul monetary wisdom

Ron Paul blames inflation on the Iraq War:



Indirectly, it might have created some small effect because of the disruption of oil from Iraq, and security worries (though it has lately become much less fashionable to blame high prices on speculation). But spending on Iraq is, compared to our economy, very small.

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Megan McArdle is a columnist at Bloomberg View and a former senior editor at The Atlantic. Her new book is The Up Side of Down.

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