US Economic Trend Analysis Message Board

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Strategies & Market Trends : US Economic Trend Analysis

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To: gpowell who wrote (30)	4/12/2006 6:39:16 PM
From: gpowell	of 97

For our purposes we can break inflation into two types: Full Employment Inflation, which seems to be targeted at 2.5% per year, and "excess" demand (or alternately a dearth of supply) inflation. i10.photobucket.com This inflation chart is derived from the supply curve chart; the linear, non-accelerating, portion of the inflation curve and corresponds to the horizontal arm of the supply curve, and the acceleration portion corresponds to the upward sloping portion. BTW, much of the preceding analysis and warnings about full employment policies can be found in Abba Lerner’s “Economics of Control” 1944, and various papers of his through 1978. He may have been the first economist to warn of the possibility of stagflation. Additional insight was gained from Patinkin, and Sidney Weintraub.

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