Inflation and growth

[Seth Ackerman]

Doug Henwood wrote:

> I think that even World Bank economists concede that inflation 
> doesn't become a serious problem until it gets over 10%. What they 
> don't say is that an economy experiencing >10% inflation is generally 
> one suffering from serious problems - e.g. political crisis, 
> structural decline, unresolved class conflict - of which the 
> inflation is more a symptom than a cause.
> 
	Stiglitz has vacillated on this question. On some occasions, he has
put the figure at 40%.

	Seth