Abstract
Inflation and the high cost of living, today commonly equated, were and can still be baffling and frustrating for policymakers and consumers alike. That much was clear in the 1910s. The decade established or solidified patterns of response by financial institutions, voters, and interest groups that often recurred in the future but some of which proved ineffective enough to be abandoned then or later.
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- 1.
E.g., Neil Irwin, “Nobody Really Knows How the Economy Works: A Fed Paper Is the Latest Sign,” NYT, Oct. 1, 2021, https://www.nytimes.com/2021/01/upshot/inflation-economy-analysis, accessed, Oct. 1. 2021; Eshe Nelson, “Central Bankers See ‘Persistent’ Inflation and More Uncertainty,” NYT, July 3, 2023, B3.
- 2.
Robert J. Shiller, “Why Do People Dislike Inflation?” in Reducing Inflation: Motivation and Strategy, ed. Christina D. Romer and David H. Romer (Chicago: University of Chicago Press, 1997), 57; Andrew Glover, José Mustre-del-Rio, and Alice von Ende-Becker, “How Much Have Record Corporate Profits Contributed to Inflation?” Economic Review, First Quarter 2023, at www.KansasCityFed.org, accessed July 28, 2023; Isabella M. Weber and Evan Wasner, “Sellers’ Inflation, Profits and Conflict: Why Can Large Firms Hike Prices in an Emergency?” Review of Keynesian Economics 11 (Summer 2023): 183–213.
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Macleod, D.I. (2024). Conclusion. In: Inflation Decade, 1910—1920. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-031-55393-6_18
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DOI: https://doi.org/10.1007/978-3-031-55393-6_18
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