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As a result of past reckless fiscal and monetary policies the pool of real wealth could be declining. If so, stagflation will result.
Original Article: "Time Preference, Interest Rates, and Stagflation"
This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.
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Frank Shostak's consulting firm, Applied Austrian School Economics, provides in-depth assessments of financial markets and global economies. Contact: email.