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Hans good afternoon, everybody. Let me say on behalf of the world bank and prospects group, we welcome you to this book event. Very much we want to welcome robert samuelson. We will introduce him in a moment. He has written a remarkable book,the great inflation and its aftermath. I read it over the weekend, cover to cover. That does not happen often. It is a very readable book. It is really remarkable. First of all, of course, because of its timing. At the moment that everybody tries to catch up on what actually the Great Depression was and he tries to focus our attention on the great inflation of the 60s and 70s. And the aftermath, when everybody is thinking of the threat of deflation we are , focusing on the consequences, negative consequences of inflation. When all of the policymakers seem to be having tensions at the moment, he explains in this book, the start of the application of thought since the kennedy administration. So currently this is remarkable , because the book was, of

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