Monday, October 12, 2015

Inflation-phobia in Germany

Interesting reflections by Frances Coppola on the possible reasons for Germany's inflation-phobia. (The dangers of historical taboos 10/11/2015)

She hasn't convinced me of her argument, because I think the inflation fixation is related to the very conservative economic doctrines now dominant in the German economic and political elite. I doubt that it reflects any kind of deep-seated preference on the part of the general public there.

But I like the fact that she emphasizes that the public spending that stimulated the German economy during the Third Reich were oriented toward war.

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