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Which problem comes first: Inflation or political instability?

Inflation is often viewed as an economic phenomenon, with mostly economic effects. Policymakers worry about what inflation might do to housing markets and express concern about government borrowing costs. They might note changes in individual economic behavior, such as a shopper pinching pennies at the grocery store. Politicians worry about being voted out of office if they are blamed for its economic impact. However, inflation is associated with more than just economics and electability. It is...
United Kingdom Peter Temin April Linton Stephen Mihm Bloomberg Lionel Robbins Jack Goldstone

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Development Economics Goes North

Apr 14, 2022 // As the middle class shrinks around the world, developed economies are taking on attributes of developing economies. Most telling is the emergence of "productive dualism" in developed economies - a split between a narrow modern sector and a larger low-productivity segment, writes Dani Rodrik.
United States W Arthur Lewis Peter Temin Harvard University Vanishing Middle Class South Korea

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