Back to the Seventies? by Kenneth Rogoff – Project Syndicate
CAMBRIDGE With the United States disastrous exit from Afghanistan, the parallels between the 2020s and the 1970s just keep growing. Has a sustained period of high inflation just become much more likely? Until recently, I would have said the odds were clearly against it. Now, I am not so sure, especially looking ahead a few years.
Relax, Professor Rogoff. Herr Professor Doktor Krugman says it’s going to be fine, and he won the Nobel Prize. In economics!