Who remembers Stagflation?

摘要

Stephen Johnston wrote an interesting book about "Cantillon's Curse." Cantillon was an economist in the 1680s who, as part of his career, was able to study the collapse of the Mississippi Company and along with it the terrible effects brought on by the unbridled" money printing by the French economy. The so-called curse is simplistic and we are living through it today. Its basic idea is that inflation does not happen by accident. It is caused by excess money printing much as the U.S. has been doing since 2009.