Thursday, July 9

Tag: War on Terror

THE PRICE IS THE POWER
Study of Societies

THE PRICE IS THE POWER

After many years of rapid growth of incomes and output, there should be little doubt that an economic slowdown of some degree is now well under way in the world. In many cases, this slowdown is accompanied by inflation. Just how much a threat this inflation is posing is open to question. But we have the double curse – stagnation and inflation. We may hope for relief from this “stagflation” but this may not be realistic. This global recession is predicted to be a depression (a more serious contraction of GDP and which endures for a decade or more). Within OECD countries the inflation rates have not reached double digits yet, but it is likely they will soon. More worrisome is the inflation from developing countries, where inflation is often above 10% annually. And this inflation will be expo...