Who cares about inflation?

Ignorant pseudo-academics who proclaimed themselves to be leftist, alter-globalists and "in touch with people's real problems" often dismiss economists for saying that it is more important to fight inflation than unemployment. In reality, no economists like price stability for the sake of it, and unemployment is the real thing that everybody wants to fight. If Central Banks around the World have decided to focus their monetary policy on controlling inflation, it is because it is the best tool to avoid the serious problems of the economy: recessions, people coming out of universities looking for jobs for 5 years before deciding to shift vocations, people not having enough money to buy basic necessities, criminality, homelessness, closing of theatres, cinemas, libraries covered with dust, trees cut down, people hating each other, war.

To correct this misinformation, the European Central Bank (ECB) has designed this "information kit" for young teenagers and teachers in all the official languages of the European Union. According to one of Geneva's leading macroeconomists who prefered to remain anonymous, this is one of the best propaganda ever. Entitled "Price stability: why is it important for you?", it consists of "of an eight-minute animated film, leaflets for pupils and a teachers' booklet. The film features two secondary school pupils, Anna and Alex, finding out about price stability. The leaflets provide an easy-to-understand overview of the topic, whereas the booklet covers it in greater detail."

I had a look at the pupil's leaflet. Unfortunately, I don't imagine it could convince people that "price stability promotes economic growth and employment by making it eaiser to compare prices and by reducing the cost of borrowing money". This is how bad economists can be when trying to influence people. Some are a bit better. When I took my undergrad class in monetary economics with this guy, I was convinced inflation had to be beaten.

All in all, controlling inflation is super important and most people don't get why. This is economists's fault.