Paul Krugman on the Year of Inflation Infamy
Macro Musings with David Beckworth
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The Wage Price Spira, Is It Possible?
Is it possible for a wage price spiral to emerge in the absence of really, really big fiscal packages? Well, we don't have a lot of experience. It took years and yearso responsible policy to get to that point. The great inflation was from 19 65 to the early eighties. And most 15, 16 year so you're at a six month period compared to that long run. Puts things in perspective. People who should know better simply do not have a sense of the scale of the us economy.
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