Stagflation: From Tragedy to Farce

By Anis Chowdhury and Jomo Kwame SundaramSYDNEY and KUALA LUMPUR, Aug 16 2022 (USNewsRank)
Half a century after the 1970s’ stagflation, economies are slowing, even contracting, as prices rise again. Thus, the World Bank warns, “Surging energy and food prices heighten the risk of a prolonged period of global stagflation reminiscent of the 1970s.”
In March, Reuters reported, “With surging oil…