> 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