Distributional Conflict and Inflation: Theoretical and Historical Perspectives FROM THE PUBLISHER
There has been relatively little work applying the conflict inflation approach in different theoretical and historical settings. This book remedies this gap by treating private-sector distributional conflicts as well as government budgetary pressures on the money supply and the price level. Attention is drawn to the costs of non-accommodativepolicies in a conflict setting - and to the additional difficulties of non-accommodation likely associated with the use of exchange rate pegging as a disinflation device.
FROM THE CRITICS
Booknews
US economists trace the cause of inflation to an underlying dispute
between various groups over who should earn more, rather than
misguided government policy. They develop original theoretical
perspectives and cite econometric evidence from various countries and
periods to show how the gains of any group are accommodated either by
an increase in the money supply or by an increase in the velocity
with which money circulates. Thus the conflict is artificially and
temporary resolved by inflation. They also warn against the costs and
difficulties of imposing non-accommodative policies to try to end the
cycle.
Annotation c. by Book News, Inc., Portland, Or.
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