A quick glance at the American left reveals a movement in the midst of a nervous breakdown, displaying behavior that goes beyond inconsistency into the realm of bipolar moods and multiple personality disorders.
Michael MedvedAbout author
- Author's profession: Journalist
- Nationality: american
- Born: October 1, 1948
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The theory of economic shock therapy relies in part on the roleof expectations on feeding an inflationary process. Reining in inflation requires not only changing monetary policy but also changing the behavior of consumers, employers and workers. The role of a sudden, jarring policy shift is that it quickly alters expectations, signaling to the public that the rules of the game have changed dramatically - prices will not keep rising, nor will wages.
Naomi Klein