Inflation Is Coming (Or Not)

摘要

The fact that wages are still stagnant is significant. In The Great Inflation and Its Aftermath, Robert Samuelson describes how the inflation leading into the 1970s actually began with high employment and wages. Government action to keep these levels artificially high ignited the inflationary spiral. Today, certain prices are indeed rising- commodities, food, fuel, the cost of government-yet all but the last of these might be due to increased demand. Meanwhile, wages are not rising.