…had had a knowledge of effective demand in the past, we would have been able to approximate the timing of every recession since the 1960’s, except for Volcker’s. We would…

…Fed wants inflation to be. (Inflation tendency = 1) If liquidity power of consumers is stronger, then inflation will tend to rise. The Fed will battle inflation, for example Volcker….

…much more central. I’m with them. In the 70s we saw an economic correction for arguably overvalued labor wages, a painful correction the economy enforced via inflation and (with Volcker’s…

…doesn’t have real GDP) except for 2009. https://research.stlouisfed.org/fred2/graph/?graph_id=154463&category_id=0 I think the Greenspan-Volcker view is irrational ideology. You recall the devotion to the gold standard in the 20s and 30s and…

…I see currently among economists. The Volcker recession was good medicine. It had a wisdom to re-break the economy to correct inflation. Current day economists seem squeamish about an economic…

…Reagan and Volcker created a recession to combat inflation, they were taking a big social risk. Yet, let’s see if we can understand the wisdom with our western minds… A…

…inequality (1), the social risk that Volcker took in forcing a recession to battle inflation (2) and a Taoist understanding of recessions as a natural and useful part of the…

…the 1980s. We see labor demand continuing to fall. We see labor supply continuing to represent more potential for unemployment especially due to the manufactured recession by Paul Volcker. The…

…Street reform bill. Along with Michigan Senator Carl Levin, successfully added an amendment, usually called the Volcker Rule, to the Dodd–Frank Wall Street reform bill, which banned high-risk trading inside…

…Volcker set the real interest target over 5%, which brought down inflation. The paths were still many times parallel to constant inflation rates. In the 1990’s, inflation was coming down….