Faculty in the News In the News

December 7, 2021 at 3:57 pm

Courier quotes Vedder on why gas prices are rising

Dr. Richard Vedder, portrait

Dr. Richard Vedder

The (Findlay, Ohio) Courier quoted Dr. Richard Vedder, Distinguished Professor Emeritus of Economics at Ohio University, in a story headlined Gas prices hitting highs.

Richard Vedder, an emeritus economics professor at Ohio University, said the increase in gas prices needs to be put in the context of broader inflation happening throughout the economy.

“The prices of everything are going up. It’s not just gasoline. The reason why we have general inflation in the United States, there are many factors at work,” Vedder said. “In the last year or two, we have expanded the money supply dramatically. The money supply typically goes up a little bit 2-4% each year but last year it grew about 26%.”

Read more in the Courier.

Leave a Reply

Your email address will not be published. Required fields are marked *