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The Control of Inflation

  • Lord Robbins

Abstract

Whatever our differences in diagnosis, I suppose that the majority of us would agree that some at least of the difficulties in the post-war situation have been due to the presence of inflation. We should also agree, I should hope, that continuation of inflation of this order is incompatible with the continuation of an orderly society. Some small upward movement of prices as time goes on may be supportable; there is some case for the view that, by loosening the dead hand of past debt and perhaps by maintaining a rather brisker state of trade than would otherwise prevail, it may be even an instrument of progress. But a trend which is capable of halving the value of savings within a decade is not of this order; sooner or later it must come to some disorderly conclusion. There is some justification therefore for devoting a little time to examining ways of controlling it.

Keywords

Monetary Policy International Relation Collective Bargaining Money Supply Bank Credit 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Lord Robbins 1971

Authors and Affiliations

  • Lord Robbins

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