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Inflation is one way for competing claims over resources to express themselves. Destroying the ability of a large section of the population to make those claims will get rid of it. Of course, that also destroys domestic demand and creates a large export dependency. The high profit/rent and low inflation approach came at the cost of increasing imbalances that had to give at some point.
by generic on Sun Mar 10th, 2013 at 08:32:48 AM EST
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