Abstract
The worst thing about inflation may be that powerful people believe it to be so bad. Prime ministers and central bankers are willing to subject the economy to the miseries of deep recession in order to slice a few points off the consumer price index. Prosperous economists sit around large conference tables and announce that ‘we’ — meaning the rest of us — will have to ‘tighten our belts’ (ie face bankruptcy or the dole queue) in order to exorcise the inflationary demon.
‘Two cheers for the civil service!’
WASSILY LEONTIEF
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References
For discussion of the General Wage Order system in New Zealand, see John M. Howells, Noel S. Woods, and F. J. L. Young (eds), Labour and Industrial Relations in New Zealand (Pitman Books, 1974).
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© 1984 Tim Hazledine
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Hazledine, T. (1984). Price Controls and Inflation. In: Full Employment without Inflation. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-17697-7_13
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DOI: https://doi.org/10.1007/978-1-349-17697-7_13
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-0-333-36984-5
Online ISBN: 978-1-349-17697-7
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