Since Nixon announced his new economic program, the American left has been searching for an effective response. In its reaction to the program and the underlying economic crisis, the left has not yet escaped some of its most familiar failings. On the one hand, many radicals cling to an image of cataclysmic economic...
Tag - inflation
That rampant inflation can be eliminated only by increasing the level of unemployment, with all the trauma so implied, has now become a commonplace, accepted but often not understood. The present accelerated inflation in the USA derives from two sources which appear to reinforce and strenghten one another. The first...