Big ideas to fix the economy: raise inflation

We’ve been asking our listeners for ideas on how to fix the economy. Congress has raised the debt ceiling and established a “super committee” to find ways to reduce America’s debt. It’s clear that the country needs a concrete plan to fix the economy. One suggestion that some of our listeners have is to increase inflation. Tyler Cowen joins us to discuss this idea. Cowen is a  professor of economics at George Mason University, and co-author of the economics blog Marginal Revolution.