The Ghost of Inflation Future
Of all the problems afflicting the world economy nowadays, inflation may seem like the least of our worries. But an understanding of how the Great Inflation of the 1970's was tamed offers important lessons for addressing today’s economic challenges, however different they may be.
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DIJON – With all of the problems afflicting the world economy nowadays, inflation seems to be the least of our worries. In addressing the post-2008 economic malaise, which stems from over-indebtedness, policymakers are correct to focus on the threat of debt deflation, which can lead to depression.