Inflation Didn’t Have to Doom Biden

Isabella Weber

Economist Isabella Weber explains in a long-form interview where the inflation surge came from and how the Biden administration struggled to take necessary measures to combat it.

President Biden Visits Virginia Beach To Deliver Remarks On Affordable Health Care

Joe Biden speaking on February 28, 2023, in Virginia Beach, Virginia. (Anna Moneymaker / Getty Images)


Over the course of my hour-long conversation with Isabella Weber, the University of Massachusetts Amherst economist continued to resist the urge to say, “I told you so.” But such a declaration would have been well warranted.

With just days to go in 2021, Weber made waves both inside and outside the academy with the publication of a short article in the Guardian entitled “Could strategic price controls help fight inflation?” At a time when inflation was nearing a forty-year high, Weber thought she was asking a reasonable question. The entire political spectrum seemingly disagreed. The National Review called her ideas “perverse.” The New York Times’ Paul Krugman was only a bit more generous — he called her “truly stupid.”

Over the last few years, Weber hasn’t gotten apologies from her early critics, but she has gotten an audience in the mainstream press (her latest op-ed appeared in the New York Times just yesterday), among policymakers, and even with the general public.

This article is for subscribers only. Please login or subscribe to access our full archives and beautiful print and digital magazine starting at just $3 a month.