Lord Keynes explains Seventies stagflation in terms of 1) wage pressure due to increased labor bargaining power, 2) dismantling of commodity buffer stock policies, 3) collapse of Bretton Woods, and 4) oil crisis. Bookmark it.
Social Democracy for the 21st Century
US Inflation Rates (1946–1987), Keynesianism and Stagflation
Lord Keynes
1 comment:
What? No 'printing money'??? ;)
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