As the climate breaks down, costs go up: Welcome to ‘climateflation’

If you ask an economist why everything is so expensive these days, you will likely get an answer explaining how oil—the lifeblood of the global economy—is currently facing supply bottlenecks in the Strait of Hormuz, thereby driving up global energy prices.

If you ask an economist why everything is so expensive these days, you will likely get an answer explaining how oil — the lifeblood of the global economy — is currently facing supply bottlenecks in the Strait of Hormuz, thereby bringing up global energy prices. That explanation…