Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
I'm curious:

But what he fails to say is that (i) low inflation was the overriding goal of policy (because inflation eats into financial returns) and (ii) inflation became increasingly defined as increasing labor wages, the idea that higher wages caused higher cosnumer prices having been "proven" in the 70s.

Is this a shift in your view here, on bias of monetary policy, inflation, wages and income distribution?

We've had a number of arguments on this subject, and it seems to me your disposition here is a bit of a shift.

The Hun is always either at your throat or at your feet. Winston Churchill

by r------ on Wed Dec 12th, 2007 at 12:08:46 PM EST

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