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471 Volker and the Great Inflation
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471 Volker and the Great Inflation
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Alex J. Pollock discusses Paul Volker and the great inflation and the similarities to today. Volker raised interest rates to an all time high and defeated run away inflation. His predecessor Arthur Burns anguished over inflation and central bankers are facing a similar anguish today. We discuss the knowledge problem and how central planners are a menace to society.
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