Krugman: Low Unemployment Causes Inflation, Not Monetary Expansion
Paul Krugman claims that the real factor determining inflation is the rate of unemployment, not increases in the supply of money. As usual, he is wrong.
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Paul Krugman claims that the real factor determining inflation is the rate of unemployment, not increases in the supply of money. As usual, he is wrong.
Episodes that made a difference involved an ideological and philosophical battle about policy and the role
Our troubles don't stem from quotas, set-asides, and the like. They stem from the presumption that