The Capitalist Challenge: WORLDWIDE INFLATION

TO THE businessmen of the world, meeting in San Francisco, the world's prime economic problem is inflation. The economic disease may be relatively mild, as in the U.S., where prices have risen 3.6% in a year after staying level for four years. Or it may be virulent, as in Brazil, where living costs have risen at a rate of 20% a year for the past six years. None of the conference representatives had any trouble naming the chief causes: 1) the desire of everyone to consume goods faster than production−and the productivity of labor...

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