Europe: Inflation All Over

France, The Netherlands and Denmark have been forced to impose price freezes on nearly every variety of goods and services sold within their borders. All three countries, along with West Germany, Italy, Belgium and Sweden, have recently raised bank interest rates (some of them several times) in an effort to restrain borrowing. Almost everywhere in Europe, factories are humming at or near their capacity, but consumers are spending money so fast that some firms cannot fully meet the demand for their products. French automakers, for example, are making many domestic buyers wait for delivery of new cars because they...

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