Prosperity Without Inflation

In 'Prosperity Without Inflation,' Arthur F. Burns delivers lectures from 1957 where he argues that economic policies since the Employment Act of 1946 introduced an inflationary bias in the U.S.

economy.

Burns advocates for a policy emphasis on maintaining reasonable price stability, suggesting that full employment and stable prices are not incompatible.

He proposes an amendment to the Employment Act to prioritize price stability, although this was never enacted.

The book highlights Burns's concerns about the inflationary consequences of economic policies and his recommendations for achieving both full employment and price stability.