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→Political instability
<!--Bruce Bartlett wrote:
<!--Bruce Bartlett wrote:
*Inflation is fundamentally a monetary phenomenon. The inflation of the 1970s came about primarily because [[Federal Reserve]] chairman Arthur Burns gunned the [[money supply]] to get [[Richard Nixon]] re-elected in 1972. He was followed by G. William Miller, appointed by [[Jimmy Carter]]. Miller didn’t have a clue about [[monetary policy]] and only made the dismal inflation situation he inherited far worse. [https://www.nationalreview.com/nrof_bartlett/bartlett200406140846.asp]-->
*Inflation is fundamentally a monetary phenomenon. The inflation of the 1970s came about primarily because [[Federal Reserve]] chairman Arthur Burns gunned the [[money supply]] to get [[Richard Nixon]] re-elected in 1972. He was followed by G. William Miller, appointed by [[Jimmy Carter]]. Miller didn’t have a clue about [[monetary policy]] and only made the dismal inflation situation he inherited far worse. [https://www.nationalreview.com/nrof_bartlett/bartlett200406140846.asp]-->
To an able-bodied person living on the dole with automatic "cost of living increases", the rate of inflation makes difference. Whereas to a worker, saddled with the cost of supporting everyone who receives government support or subsidies, the dollar value of their labor to support themselves diminshes in real time.
To an able-bodied person living on the dole with automatic "cost of living increases", the rate of inflation makes difference. Whereas to a worker, saddled with the cost of supporting everyone who receives government support or subsidies, the dollar value of their labor to support themselves diminshes in real time.