messy

Path Dependency in the EU and U.S. Economies

Has this author forgotten the hyper inflation of the 1970's in the USA with 15 to 18% rates of interest and inflation above that. How well i remember retirees making a COLA DOUBLE of what workers were getting. Now that we have "core inflation indexing", its just the opposite due to government manipulations of indexing. Core inflation says 2.4% per year, and actual inflation is above 8.0%