6min chapter

Ones and Tooze cover image

Stagflation Nation?

Ones and Tooze

CHAPTER

Is That the Cause of Recessions in the United States?

Central banks want to prevent market driven inflation getting out of hand. The idea being, i think, that if you do that, you prevent the excesses of an inflationary spike really running their full course. But does this concentration power make them more politically vulnerable to a kind of insurrection in economic terms? I mean, we know what an insurrection would look like, is they really call one? In the 19 seventies, you could talk of large scale organized labor as a potential countervailing force in modern societies. We see that kind of politics brought into play in the current moment, in germany and other parts of europe. And so what we weue e facing with to

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