The answer to inflation, say the authors, is discarding long-held misperceptions that helped bring on the current crisis. They include the notion that central banks can create prosperity by producing money “out of thin air,” and that economic “stability” requires “a little inflation.” For decades these ideas have been Holy Writ in Washington. Inflation shows why they’re misguided, and also why the heedless money-printing being pushed today by left-wing advocates of “Modern Monetary Theory” would lead us down the road to disaster.