Word: inflationitis
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Dates: during 1960-1969
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That did not mean that he was abandoning Castello Branco's war against inflation. "But the government," he said, "will do all it can to balance the control of inflation with national development."
As far as businessmen, bankers and most politicians on both sides of the Atlantic are concerned, that final version had better be correct. In 16 years on the job, Martin has grown to be a symbol of monetary integrity; he is inflation's most powerful Washington foe. His departure...
∙SWEDEN. Unemployment, largely the result of troubles in the textile industry, has doubled (to 48,000) in the past year, but the biggest problem is still inflation-brought about in large part by government spending.
∙SPAIN. Years of unprecedented prosperity, besides sending Spain's annual economic growth rate soaring to 9%, have caused inevitable growing pains. To combat an alarming lurch toward inflation, the Franco regime last year introduced new monetary restraints and tightened up on installment-buying. Spanish workers have expressed their...
∙SWITZERLAND. Price inflation remains a problem despite the country's three-year-old stabilization program. But Switzerland's economic growth rate, which slowed from 5.1% in 1964 to less than 3% last year, is expected to improve slightly in 1967, thanks in part to the elimination of...