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To learn about the future of inflation, look to lessons from the past
The Next Age of Uncertainty is one of the finalists for this year's Donner Prize, one of the best public policy books written in 2022. The following is an excerpt.
The Great Inflation is so labelled because the inflation went global. The 1950s and 1960s saw low and stable inflation in most advanced economies. In this era, many economists believed that there existed a trade-off between inflation and unemployment: by allowing a little bi...
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