Mainstream theory: Inflation is caused by an increase in demand.
Post-Keynesian theory: The increase in demand for storable industrial products is met by an increase in production that reduces unit costs.
Which explains positive real growth rates and disinflationary growth periods?
Post-Keynesian theory: The increase in demand for storable industrial products is met by an increase in production that reduces unit costs.
Which explains positive real growth rates and disinflationary growth periods?
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