Price and Quantity Variability under Stagflation

  • Bernhard Gahlen
Conference paper
Part of the Studies in Contemporary Economics book series (CONTEMPORARY)

Abstract

On October 28th 1976, the Commission for Economic and Social Change of the Federal Government (1977) passed their final report. In Ch. II, No. 68, they stated: “If the current trend in economic activity in the Federal Republic of Germany continues, the prospects are not encouraging. It would have to be expected that
  • economic growth will decline still further,

  • cyclical variation will increase,

  • the rate of depreciation of the purchasing power of the DM will continue,

  • the unemployment problem will become more severe,

  • and social security cannot be guaranteed any longer.

The Members of the Commission cannot imagine that these trends will be acceptable to any politician.”

Keywords

Covariance Income Monopoly 

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Copyright information

© Springer-Verlag Berlin Heidelberg 1986

Authors and Affiliations

  • Bernhard Gahlen
    • 1
  1. 1.International Institute of ManagementUniversity of AugsburgBerlinGermany

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