Keith Weiner is a bright guy. I Re-Post his articles to my blog regularly. He has a way of clearly getting to true relationships in economics. But even bright guys make mistakes.
One recent theme of his is trying to explain why prices rise and fall. Now this is a very complex subject, and there are multiple reasons why sometimes a given good or service costs more (or less). And, causes don’t happen all at once – there may be lags of years.
Keith likes to talk about Useless Ingredients which are mandated by federal, state, and local politicians. Keith is very right on this.