inflation

[Doug Henwood]

Date: Wed, 9 Feb 2000 21:42:20 -0500 (EST)
From: bhandari at mmp.Princeton.EDU (Rakesh Bhandari)
Subject: Re: Japan syndrome

Doug asks
>
>So why does the bourgeoisie hate inflation so much, and why have they
>embraced deflationary policies since Paul Adolph Volcker's ascendancy
>in 1979?

Because inflation got out of control by the 1970s. It went from prop to key
destabilizing factor as it galloped ahead to the complete incompehension of
bourgeois economists as unemployment was then high.

yrs, rakesh