The Rise And Fall Of Monetary Policy - Ian Macfarlane
The Joe Walker Podcast
00:00
The Relationship Between Wage Increases and Inflation
A lot of business decision making was based on the idea that it was going to be discontinuing inflation. It gave rise to the belief, well, you might as well take on more debt because the real value of that debt will dwindle over time. Policy errors did also play a big role, including monetary policy definitely. But monetary policy can work at all times.
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