The Great Inflation
The Great Inflation

Author: Michael D. Bordo

Publisher: University of Chicago Press

Published: 2013-06-28

Total Pages: 545

ISBN-13: 0226066959

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Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.

Presidential Economics
Presidential Economics

Author: Herbert Stein

Publisher: American Enterprise Institute Press

Published: 1988

Total Pages: 456

ISBN-13:

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With rare wit and lucidity, Herbert Stein examines the events, policies, and personalities that have shaped the American economy for a half-century. Copyright © Libri GmbH. All rights reserved.

China's Economy
China's Economy

Author: Alan Greenspan

Publisher: Student Study Guides

Published: 2019-01-21

Total Pages: 78

ISBN-13: 9781643542522

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Since initiating market reforms in 1978, China has shifted from a centrally-planned to a more market-based economy and has experienced rapid economic and social development. GDP growth has averaged nearly 10 percent a year--the fastest sustained expansion by a major economy in history--and has lifted more than 800 million people out of poverty. China reached all the Millennium Development Goals (MDGs) by 2015 and made a major contribution to the achievement of the MDGs globally. Although China's GDP growth has gradually showed since 2012, it is still impressive by current global standards. With a population of 1.3 billion, China is the second largest economy and is increasingly playing an important and influential role in development and in the global economy. China has been the largest single contributor to world growth since the global financial crisis of 2008. Yet China remains a developing country (its per capita income is still a fraction of that in advanced countries) and its market reforms are incomplete. According to China's current poverty standard (per capita rural net income of RMB 2,300 per year in 2010 constant prices), there were 55 million poor in rural areas in 2015. Rapid economic ascendance has brought on many challenges as well, including high inequality; rapid urbanization; challenges to environmental sustainability; and external imbalances. China also faces demographic pressures related to an aging population and the internal migration of labor. Significant policy adjustments are required in order for China's growth to be sustainable. Experience shows that transitioning from middle-income to high-income status can be more difficult than moving up from low to middle income.