John K. Galbraith tells the economic history of a couple of economies (mostly UK, US and to a lesser extent Germany) from the end of the first world war until the Bretton Woods conference. He also provides a biography of John M. Keynes and outlines some central ideas of Keynes such as the possibility of an underemployment equilibrium. Galbraith complements the historical remarks by the biographical experiences he made in economic management (and in engaging with Keynes) serving as deputy head of the Office for Price administration during the second world war.

Why did inflation lift of in 2022? Are there differences between the US and the Eurozone and if so, what are they?

The author discusses the various dimensions of the recent hike in inflation in the context of the United States and policy dilemmas around high inflation GDP decline and unemployment Servaas Storm Institute for New Economic Thinking

From the perspective of mainstream theory the effectiveness of monetary policy in bringing down inflation depends on two very important equations the aggregate demand equation and the infamous Phillips Curve Without these it becomes more difficult or rather impossible for central banks to carry out monetary policy and obtain the …

Mainstream inflation theories in economics do little to explain the recent acceleration in price increases. The associated economic policy recommendations further increase the misery of low-income groups.