"Don't Fight The Fed" | The Snider Series | Episode 3 (WiM093)
The "What is Money?" Show
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In the Seventies, I Love a Whittenstein's Ruler
When unemployment and inflation increased together, this was the infamous stag flation and seventies. And freedman's argument was essentially that a people would become sort of normalized to higher rates of inflation. So it wouldn't matter. The film's curve wouldn't apply, because it would only apply in the short run. That long term expectations actually determined rates of inflation as well as rates of employment,. Because your high levels of inflation tend to be not very good fora economic conditions either.
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