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High inflation takes off where political forces are too strong to permit the implementation of harsh remedial measures with respect to taxation and monetary policy such as to prevent an implosion of the national currency. In the contemporary global financial marketplace, there has been fluctuating concern about the US heading toward this point, albeit at a highly uncertain date, as evidenced by waves of attack last spring, summer, and autumn on the US dollar. In reality, though, the long-run inflation threat level is higher in Europe than the US.  Any substantial European remedial action sufficient to arrest in the future a threatened emergence of high consumer price inflation would unleash forces which could potentially sweep away the present status quo of political and economic power. Hence, whatever the immediate cause of the inflation acceleration, we should expect a consensus of policymaking elites Berlin in full acquiescence to kick the can down the road.

Republic ofSerbia generalEmperor franz josefWilliam mcchesney martinMonetary unionChristian democratic unionGreat societyBretton woods systemEuropean economicகுடியரசு ஆஃப்செர்பியா ஜநரல்பேரரசர் ஃப்ரான்ஸ் ஜோஸெஃப்வில்லியம் ம்க்ச்செஸ்னேய் மார்டின்பண தொழிற்சங்கம்கிறிஸ்துவர் ஜனநாயக தொழிற்சங்கம்நன்று சமூகம்