The Aspirations Gap, Interdependence and Global Inflation
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It has become something of a platitude to say that sharp, continuous increases in prices are one of the most serious economic problems of our time. Indeed, the problem is so great, we are told, that unless it is brought under control inflation will destroy the very fabric of the ‘Western’, ‘industrial’ or ‘civilized’ society — the exact scale of the ‘destruction’ depending on the author’s capacity (or predilection) for taking a ‘cosmic’ view of such momentous happenings.
KeywordsReal Income Economic Progress Social Expenditure Coercive Power Statistical Appendix
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