The Fiction of Neutral Inflation |
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| Authors: | Eli Schwartz Professor |
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| Institution: | Economics at Lehigh University since 1954 He holds degrees from the Universities of Denver and Connecticut and Brown University His wrinngs have been mainly on questions of finance, with an increasing interest in the formulation of policy His most recent book was Trouble in Edin A Comperson of the Swdesh and British Economics |
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| Abstract: | Though less frequent with the years, intermittent calls for 'reflation' to stimulate the economy can occasionally still be heard from Keynesian economists and politicians. Eli Schwartz, Professor of Economics at Leghigh University, Pennsylvania, examines the effects of inflation, anticipated and unanticipated, on participants in the economy. Professor Schwartz argues that, in spite of the short-term political benefits, the longer-term costs are so high that less myopic politicians may perceive the electoral advantages in tackling inflation. |
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