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Emergence of the Eurodollar System | The Snider Series | Episode 2 (WiM088)
The "What is Money?" Show
Inflation and the Real Economy in the Seventies
We had quantitative expansion of the urodoll system, but also qualitative expansion. That made it much more difficult to connect the dots between monetary irregularity and real economy result. In milton freedman d correctly identified ahead of time that where central banks said they would tolerate more inflation was a really bad idea. Because you can have a situation where employment unemployment goes up at the same time prices do. So there ware all sorts of economic failures in the fact that we don't know what's going on in the monetary system"
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