Predicting the future is not so easy. Who could have guessed 10 years ago, that the world would suffer from a pandemic, and then war? And thereby, economic consequences in everyday life. Perhaps it was not unexpected. The Crimean peninsula was annexed by Russia in 2014. At that time, the war felt far away, but today it is very close because newspapers write daily about everything related to the war in Ukraine. We are trying, each of us, to support peace, and our sympathies and thoughts go daily to Ukraine.
I don’t know much about economics, no more than what you read in newspapers. However, the prevailing inflation should be a classic textbook example. As a layman, one wonders if there are other ways to control inflation than the National Bank´s measures. Perhaps political measures? Or simply to end the war. Nevertheless, it feels like we won’t return to what it used to be, at least it feels very distant.
From what I remember, it is directly between buyers and sellers that the market itself prevails. And, is inflation there? When I was on one of my long walks in Spain this summer, by coincidence, I ended up in the middle of a street market where everything between heaven and earth was being sold. This market felt miles long. I passed a carriage where there was extra activity. A big crowd, loud voices, and trade as you can see in the photo above. It felt like there was something special right there that made me think “This must be market economy”. I continued my walk which became considerably calmer closer to the beach, and I ended the day with a nice swim.