Word: inflationitis
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Dates: during 1960-1969
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Otto Eckstein, professor of Economics and a member of Vice-President Humphrey's economics advisory board, has submitted a report to the Vice-President on curbing inflation without hurting the country's prosperity.
A Share of the Profits. Inflation plays a widely overlooked role in the swing to apartments. The rising cost of land, labor and materials (lumber prices have soared 30% this year) has driven up the total price of for-sale homes in many areas much faster than rents have climbed...
For his part, Schiller considers it "downright scurrilous for people to accuse us of too much strength." With some justification, he is inclined to blame much of the imbalance on countries whose own exports have been hobbled by unchecked inflation.
Help from Rothschilds. The output of goods and services is running 14% ahead of last year's $4.1 billion pace, much better than the remarkable 10% annual growth that Israel recorded during the late 1950s and early '60s. Industrial production is up by about 30% from last year...
Still, the labor market is so tight that inflation is a constant danger. Eying next year's elections, some left-wing groups are already pushing for a general 10% wage increase. Even so, the country displays a confidence that borders on cockiness. This month Sharef declared a 15% cut...