Regular readers will know that I hate the term NAIRU – or Non-Accelerating-Inflation-Rate-of-Unemployment – which is a concoction invented by mainstream economists to maintain unemployment at elevated levels (to keep the working class in its […]
From The Guardian Central bank infallibility was always something of a myth. Much of the decline in inflation in the 1990s and early 2000s was due to globalisation rather than the brilliance of central bankers. […]
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