Inflation is becoming a worldwide epidemic, producing political fevers as well as economic bruises. Practically no country is immune, regardless of its wealth, size, politics or state of devel opment. Almost everywhere inflation is worse than in the U.S.
In Belgium, where prices rose 4% in the past twelve months, the government fell three weeks ago because it proposed emergency taxes to keep prices in check. Austria next week will hold a national election, with inflation as the central issue: prices advanced 5% last year, and Socialists are mad because the conservative People's Party favors a temporary tax increase. In...
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