🚀 go-pugleaf

In article <8432@tekig7.PEN.TEK.COM>, ssoar@tekig5.pen.tek.com (Steven E Soar) writes:
|> 
|> Here's an issue that I don`t see being discussed but seems pertinent to the
|> state of our economy today: the proper balance between inflation and
|> employment.
|> 
|> Economics seems dominated by two major philisophical camps with different
|> emphases and predictive powers but diametrically opposed outputs.
|> 
|> In one camp we find the Keynesians, who can reiliably stimulate growth, but at
|> the added expense of inflation.  Inflation is inefficient because at higher
|> levels, it confuses future price/cost levels in the market.
|> 
|> In the other camp we find non-Keynesians (Austrians, monetarists,
|> supply-siders) who can who can reliably  control inflation, but at a huge
|> expense of unemployment.  I believe that Blinder comments that if we ran the

 The claim that reducing inflation causes unemployment is a myth which
only the Keynesians still believe. A reduction in inflation influences
the timing of changes in unemployment in much the same way as when you
stop drinking alcohol influences when you will get a hangover, without
being the cause of the hangover.

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  >> Peter McCluskey >> pcm@cs.brown.edu >>   Reunite Gondwanaland!
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