Paul Krugman on the Year of Inflation Infamy
Macro Musings with David Beckworth
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The Inflation of the Seventies
There had been, roughly speaking, three eras of inflation shocks since or war two. The immediate post war ones were simple, too much mony chaseing too few goods. A surge in demand coupled with an economy that was still adjusting to the dislocations of the war cameon fast. And then we had spikes and inflation. There were mostly commodity prices within associated with the cat war,. Then there are these commodity price shocks that produce spikes and inflation bu a, the kind of thing you want to just ride through. So, ok, ok, all the title pretty much from him. Ok, that makes sense. You already alluded to one experience, tin 19 forty eight. But walk
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