Eight Decades of Inflation in Chile, 1879-1959: A Political Interpretation

摘要: Most of us will agree, however, that rapid inflation in any country does serious economic harm by making routine saving highly unprofitable to the saver, distorting allocation investment, creating a privately profitable but socially wasteful area activity for middlemen various species, and other ways.--Jacob Viner. Continuous galloping is found some underdeveloped countries; Chile perhaps most extreme example. There can be no doubt it retards growth (through lowering allocative efficiency economy discouraging savings) even if acute depressive reactions avoided.--Gottfried Haberler. The gross national product may well fifth fourth below what one would expect from fine collection resources at its disposal were not chronic malallocations have occurred as consequence direct controls has employed.--Theodore W. Schultz.