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might fall into the stagflation trap. … might fall into the stagflation trap. …
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Discussions on "profit inflation" are mired in conceptual unclarities, definitional idiosyncrasies and data problems. This article attempts to bring conceptual clarity to the debate on profit inflation, defining profit inflation strictly as an increase in the gross output price that is caused by...
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Few will argue with the claim that shortages are socially harmful. Shortages, by definition, imply a lack of something – not enough stuff to go around. A shortage of food implies hunger; a shortage of electricity implies darkness. But are shortages harmful to everyone equally? And if they are...
Persistent link: https://www.econbiz.de/10013396060
inflation. In this post, I’m going to test Jonathan Nitzan and Shimshon Bichler’s ‘stagflation thesis’. The idea is that … ‘stagflation’ — economic stagnation combined with high inflation — is not some exogenous ‘market shock’. According to Nitzan and … Bichler, stagflation is a business strategy — one of two main routes to profit. The first route to profit is for businesses to …
Persistent link: https://www.econbiz.de/10013492945
little evidence for a ‘growth-inflation trade off’. Instead, ‘stagflation’ seems to be the norm. Now, the question is why …? Soon after I published ‘Is Stagflation the Norm?’ several readers pointed out that I should take a look at causation. The …
Persistent link: https://www.econbiz.de/10013500786
Rapid technological change is often touted as a fundamental reality of capitalist societies. It is also presented as concrete evidence for the supposed progressive improvement of material well-being that characterises the capitalist system of social order. Since its emergence in the mid-20th...
Persistent link: https://www.econbiz.de/10014000536
Rapid technological change is often touted as a fundamental reality of capitalist societies. It is also often presented as concrete evidence for the supposed progressive improvement of material well-being that characterises the capitalist system of social order. Since its emergence in the...
Persistent link: https://www.econbiz.de/10013342803