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Published in:
1996 | OriginalPaper | Chapter
Wages and Prices in a Mixed Economy
Author : James E. Meade
Published in: Explorations in Economic Liberalism
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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I need not dwell on the fact that we find ourselves not merely in an inflationary situation, but in a situation in which the rate of inflation has itself recently been rising rapidly and has been combined with an exceptionally high level of unemployment. This ‘stagflation’ is illustrated in Table 2.1.2