Word: inflationitis
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Dates: during 1960-1969
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As irreverent cariocas put it, not even Jesus Christ, whose statue, arms outstretched, gazes down on Rio from Corcovado, would be able to do much about Brazil's endemic sin of inflation. In one 31-month period, the cost of living soared an astronomical 340%, and in 1964 alone...
Last week, in another Draconian attempt to curb the pressure on prices, Castello Branco decreed that no union may be granted more than one wage boost a year-a blow to organized labor, which has been getting multiple raises yearly. By such stubborn measures, Castello Branco and his able Minister...
First the Administration of John F. Kennedy, and then the Administration of Lyndon Johnson, tied up to "guide-posts." Under these, the U.S. Government tried to fight inflation by urging both labor, in its wage demands, and industry, in its pricing, to hold to annual increases of no more than...
Actually, what had happened to the market? There were as many answers as questions about that. The U.S. economy was still strong, as evidenced by second-quarter earnings reports (see following story). The fact is that, no matter how successful Lyndon Johnson may be politically, an increasing number of investors...
Not long ago, Peru seemed near the edge of economic disaster: plunging world prices had pulled the bottom out of the country's cotton and sugar markets, and a huge budget deficit threatened runaway inflation. Today things are different; in a remarkable reversal of form, Peru is prospering at...