Prices are going up!
In 2020 there was a pandemic, businesses shut down, and people spent less on travel and miscellaneous - out and about - expenses. They came out in 2021 in force and created significant demand pressure for goods and services as the lockdowns eased up, which in turn led to increased prices as businesses and manufacturers responded to the consequent reduction in supply.
Oh, and there's a F***ing war in Ukraine, and their grain exports are being blocked, so there's a food shortage in some African countries where the effects of climate change mean droughts and near-record high grain prices. The world tries to fight back with sanctions banning Russian oil imports, which also creates demand pressure as Russia supplied 40% of Europe's oil. Now, gas prices in America (for example) on average have gone up over 50% since the start of the year, which means prices are up for everything, everywhere.
The guys discuss the rising cost of living, its causes, the role of the government in managing the situation, and some of the tensions that exist between fostering an environment for innovation and keeping the evils of the profit motive in check. They then segway masterfully to the possibility that for the average Nigerian in Nigeria, the price of their favorite afrobeat superstar might soon be too high. A living memory on the internet and a tinge of national pride will have to suffice in place of access as Nigerian artists continue to perform for an increasing number of their fellow Nigerians and their new foreign fans in foreign lands. It's all connected.
