scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 4,200
Hyper inflation has plagued most of the worlds developing countries over the past decades Countries in the industrialised world too have at times duelled with dangerously high inflation rates in the post WWII era With varying degrees of success all have employed great efforts to bring their inflation rates within acceptable limits Generally a moderate rate of inflation has been the ultimate goal More recently however a few countries have pursued policies that strive to eradicate inflation altogether through complete price stability This has proven to be a contentious enterprise which clearly indicates that there is still no universally accepted solution to the inflation problem Indeed there is not even an agreed consensus regarding the source of inflation itself The monetarist perception that the root of inflation is solely the excessive creation of money remains So too does the belief that inflation originates in the labour market And amongst a variety of others the opinion that inflation serves the critical social purpose of resolving incompatible demands by different groups is also strong This last and more widely accepted case shows that the problem is hardly a technical one but rather a political one It highlights the now unquestionable fact that politics and inflation are inextricably linked And as with all inherently political issues consensus is difficult if not impossible to achieve But political characteristics do provide flexibility In some countries high rates of inflation have clearly been compatible with rapid economic growth and fast rising standards of living In such cases it is quite reasonable to suggest that higher rates of inflation are acceptable--perhaps even necessary In this setting it is by no means clear that pursing a policy to stop moderate inflation is either required or in the best interests of the mass of the population at all While inflation guarantees that some will gain at the expense of others the redistributions of income and wealth which do take place can on normal
@Kibin is a lifesaver for my essay right now!!
- Sandra Slivka, student @ UC Berkeley
Wow, this is the best essay help I've ever received!
- Camvu Pham, student @ U of M
If I'd known about @Kibin in college, I would have gotten much more sleep
- Jen Soust, alumni @ UCLA