Even mild inflation should change how we think about policy

Efficiency and expanded labor supply are good; further stimulating demand? Maybe not so much

(OLIVIER DOULIERY/AFP via Getty Images)

When Andy Stern, the influential former president of the Service Employees International Union, was promoting his book about universal basic income, his go-to example of looming technology-induced job losses was the impact of self-driving trucks on the trucking industry.

That was five years ago. Today we still don’…