A RECURRING FEVER
Economists still haggle over a proper definition of inflation, but most Americans know inflation's impact: rising prices. From Kennedy to Nixon to Carter, Washington's stop-and-go anti- inflation strategies have proved inadequate. Here the editors outline the postwar record, and economist Laurence Seidman describes the latest proposed remedy.
According to Plutarch, Athens under Solon (fl. 600 B.c.) wrestled with severe inflation after depreciation of the mina. To restore stabi...