Jimmy Carter meeting with business leaders asking for help to lower inflation, 1979. This is from the last time American policymakers decided to destroy working class gains in the employment market by freaking out about inflation.
Tag: inflation
Since our economic betters have overlearned the lessons of the 1970s and have responded to this brief and highly specific to a global pandemic period of inflation by going full 1979 and seeking to tan
Paul has a theory that: it was a huge boon to the plutocracy to convert essentially all non-government and quite a few government pension plans from a defined benefit to a defined contribution model.
I would like to blame Larry Summers for everything because he is a terrible human being. David Dayen blames him for the current inflation issue: Any honest Democrat will admit that we are now all Friedmanites,” Larry Summers wrote in The Times in 2006. Mr. Summers comes from a family of left-leaning economists who saw […]
Important piece at the Prospect pushing Biden and his advisors and Democratic leaders generally not to overreact to inflation as Jimmy Carter did. Democrats are right to worry about inflation’s thre
I am not one to dismiss the inflation of the 1970s as a very serious policy problem at the time. Obviously, anyone who lived through that is aware of it. But the lessons of the 1970s have been vastly
For a very long time, I’ve been frustrated with how even liberal economists are basically living with the trauma of the late 70s and can’t think beyond the idea of INFLATION IS EVILLLLLLL!!! This is not to dismiss the very real problems of inflation during those years, but everything else in the world has moved […]
Nothing excites the blood like the fed and monetary policy. So here’s a great piece by Dean Baker getting after the fed for raising interest rates and causing unemployment. However, there is lit
I’m surprised the Federal Reserve hasn’t raised interest rates yet as it’s been rumored for a good year. But the time is coming, despite Janet Yellen doing some work to forestall it