"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Stagnation or Stagflation?
Submitted by Mike Powers on Sun, 2011-07-31 00:00
in
"One way to make a Keynesian angry is to point out that stagflation -- a simultaneous increase in inflation AND unemployment -- is not possible under the Keynesian scheme." By William L. Anderson.
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