What can we learn from monetarists about what happened to prices after the Covid-19 pandemic struck? What can we learn from the mistakes made in the 1970s? The purpose of posing these questions is to inject humility into current debates, especially among central bankers. Their failure to forecast, or prevent, the big jumps in price levels of recent years is significant. So, why did it happen and what might history suggest about the mistakes still to come?
關於新冠疫情爆發後物價的變化，我們可以從貨幣主義者那裏獲得哪些啓示？我們可以從20世紀70年代所犯的錯誤中汲取什麼教訓？提出這些問題的目的，是希望讓當前的辯論多一點謙卑，尤其是讓央行行長圈的辯論多一點謙卑。他們未能預測或阻止近年來價格水準的大幅上漲，這是明顯的失敗。那麼，失敗的原因是什麼？對於未來可能還會出現的錯誤，歷史會帶給我們哪些啓示？
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