Economist Stephen Hickson explains how inflation rises, why it's bad for us and how we got rid of it. (A highlight from the University of Canterbury’s Raising the Bar series)
Photo: RNZ / Michelle Tiang
Developed nations have enjoyed a long period of time with low inflation. An entire generation of people (largely those born after the mid-80s) has grown up knowing nothing other than stable prices – and in fact, enjoying falling prices for many things, such as computers and other tech.
But inflation has come back again, and we have collectively forgotten why it was a problem in the first place and how hard it can be to get rid of it. In this talk, Stephen Hickson explains how inflation arises, why it’s bad for us and how we got rid of it. And yes – why it is like toothpaste.
The session, which was recorded in Laboratory Bar in Lincoln, features a lively q&a session with the audience. And the first person to ask a question during the discussion time is the former Finance Minister from the 1990s, the Hon. Ruth Richardson.
(Wikipedia records that the Mother of all Budgets was the nickname given to the 1991 New Zealand budget, the first delivered by the new National Party Minister of Finance Ruth Richardson. It was the catalyst of her economic reforms known in the media as "Ruthanasia.")
About the speaker
Photo: University of Canterbury
Stephen Hickson
Stephen Hickson is a Senior Teaching Fellow in the Department of Economics and Finance and Director of the Business Taught Masters programme. To him, economics isn’t just another academic discipline – it’s a fascinating window on the world and a lens through which we can understand the behaviour of people in their everyday lives. So much so, that if you see him out on his bike, he’s more likely to be listening to Tim Harford than Taylor Swift. His long-suffering wife thinks this is slightly weird. She is probably right.
This session was broadcast in association with the University of Canterbury’s Raising the Bar Christchurch night, held in May 2023
Photo: University of Canterbury
