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The historical guilds of Europe have long been criticized for cartelizing trade and seizing monopolistic powers. And new research suggests the situation was very similar in Africa as well.
If a business raises the price of its goods and consumers (and consumers pay it) we will have here a specific price increase but not a general increase in prices. That's not inflation.
Latin America's antiglobalization epoch, from 1913 to 1970, was marked by high regulations and antitrade efforts that have fueled Latin America's economic problems.
Even with November's small rise, money supply growth is far below the unprecedented highs experienced during the past two years. This points to a weakening economy.
In the cold light of economic reasoning, we can see that the Marshall Plan was in essence a scheme for postponing the bankruptcy of socialism and the welfare state.
Money and Banks
In its effort to patch together a working financial system out of postwar crises, the Federal Reserve would wildly exceed its mandate, flooding the world with dollars.
Friday's jobs report was weak, but the most alarming datapoint is that real wages are plummeting.
Yet again, earnings aren't keeping up with inflation, and the Fed is feeling political pressure. But can the economy survive any serious move toward ending massive stimulus?