Letters to the editor: July 2: ‘I’d like to thank the oil industry for taking steps to reduce air pollution and reverse climate change.’ Upside of inflation and high gas prices? Plus other letters to the editor

: Most economists failed to see today’s inflation coming not because they did not know, but because they seemed to ignore a well-known fact, first documented in the early 16th century and confirmed countless times since: A significant and persistent increase in money growth is soon followed by a significant and persistent increase in inflation.

The resulting costs to central banks’ credibility are prominent among many others we now face – all because of economists’ neglect of certain inherited economic ideas and the evidence that supports them.Get Used To It The Ford government, then, should be lauded for a desire to shake up the establishment at the Ontario Securities Commission and encourage it to understand the critical importance of private capital to capital formation, company building and job creation.

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