Food, Fuel, and the Cost-of-Living Crisis
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Is a Recession a Temporary Solution to High Oil Prices?
Curry argues that a recession would only provide a temporary solution to high commodity prices. The underlying supply constraints will require substantial capital and time to resolve, he says. But even if we have deeply rooted supply shortages, won't demand just fall very sharply? Recessions and demands of structione are a temporary solution - they are not a long ter solution.
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