Yes, the Chat AI is partly right, partly wrong, partly misinformed…and also misses the deepest two reasons inflation occurs:
1) the present monetary paradigm for the creation and distribution of new money is the MONOPOLY paradigm of Debt Only which means that it does not allow us to create money as a reciprocal gift of price to consumers at retail sale all of which would be reciprocally monetarily gifted back to the merchant granting the discount. My 50% Discount/Rebate policy would make gas here in Phoenix only cost $2.50 (and alot less elsewhere) ….for EVERYBODY, hence it would macro-economically not only end inflation it would (mindblowingly for orthodox economic theory) implement BENEFICIAL price and asset DEFLATION.
2) present free market theory is not only a fetishized thing it is also a misnomer because what we really have is alternately goosed and strangled dominating financial CHAOS. A chaos that Finance is virtually always responsible for and yet is able to rise like a Phoenix out of its increasingly occuring crises because it has the power to create the life’s blood of every individual and commercial agent, and we can’t seem to visualize the new paradigm, its re-orienting policies and cognite on the concept behind even the new paradigm concept itself (the natural philosophical concept of grace…as in Gifting.)
The problem is current AI is an encyclodia of facts but it still doesn’t integrate them well let alone integrate opposite concepts which is the mental discipline known as Wisdom and which is also the very process of conceiving and perceiving new paradigms.
AI is Speedy Cyber Non-Sapiens. I’ve recently concluded that humans should be re-designated as Homo Minimally Sapiens that is, minimally wise and discerning man.
If mankind would apply an aspect of the pinnacle natural philosophical concept of Wisdom, that is grace as in gifting, to an everyday universally participated in system like the economy the potential self actualization of gratitude would go way up which is exactly what Homo Minimally Sapiens needs. Thus my Wisdomics-Gracenomics. Instead we tinker around with disciplines like politics, anthropo-centric religious beliefs and even science. As I like to say: “Science is wonderful, necessary and deliciously interesting…and it exists entirely within the mindset/digestive tract of Wisdom.”
I would suggest AI coders try to integrate the many, many aspects of the natural philosophical concept of grace into their creations. Particularly a unity of opposites that results in a thirdness greater oneness of an apparently unresolvable duality. Thorough mental integration of apparent opposites is the very process and means of garnering wisdom, and it is also the result of the phenomenon known as a paradigm change. That’s why integrating the seeming opposites of the current monopolistic paradigm for the creation and distribution of new money, Debt as in Burden to Repay ONLY and Monetary Grace as in Gifting will result in a paradigm change…if strategically implemented with universality and at the most efficacious places in the economic process.
By the way confronting complete conceptual opposition and complete inversion of temporal universe reality are signatures of historical paradigm changes like geo-centrism to helio-centrism/the inversion of the positions of the earth and the sun and nomadic hunting and gathering to agriculture, homesteading and urbanization.