Controlling Inflation

Greg Davidson and Paul Davidson
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Greg Davidson: National Aeronautics and Space Administration

Chapter 7 in Economics for a Civilized Society, 1988, pp 134-157 from Palgrave Macmillan

Abstract: Abstract The analysis in Chapter 6 has brought us to the root of the inflation — unemployment dilemma facing an entrepreneurial economy possessing an accommodating banking system and a government responsible for creating the demand necessary to ensure full employment. A banking system which can provide finance for managers as they expand output, is also capable of providing finance for managers to meet inflating wage and other raw material costs. How does an economy, assured of full employment and a banking system ready to finance rising production costs, prevent managers and workers from raising their prices in their own self-interest?

Keywords: Civilized Society; Money Supply; Commodity Price; Full Employment; Gross National Product (search for similar items in EconPapers)
Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-19244-1_7

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DOI: 10.1007/978-1-349-19244-1_7

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