Document Type

Report

Publication Date

12-1974

Number

002

Abstract

We begin'by referring to what is possible the major macroeconomic problem - both for analysis and for policy - facing the Western economics today; namely, the reasons why the supposedly mild inflations of the two decades following the Second World War, have now turned into the far more intractable "stagflation" besetting theorist and policy-maker alike.

Published As

This paper was published in the Foundations of Modern Austrian Economics. Kansas City: Sheed and Ward (1976): 185-211.