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The problem is inflation-control, not spending-control

Author

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  • A.N. MCLEOD

    (York University)

Abstract

The problem of mounting public debt should be attributed to the inability to control inflation instead of restricting public expenditures as many economists would suggest. The use of inappropriate monetary and fiscal tools to control inflation have aggravated the problem. In light of new findings, it is suggested that tax-based incomes policies and Lerner's market anti-inflation plan, among others, should be tried out.

Suggested Citation

  • A.N. Mcleod, 1995. "The problem is inflation-control, not spending-control," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 48(193), pages 145-158.
    • Handle: RePEc:psl:bnlaqr:1995:22
    as

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    File URL: http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/10559/10443
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    References listed on IDEAS

    as
    1. Henry C. Wallich & Sidney Weintraub, 1971. "A Tax-Based Incomes Policy," Journal of Economic Issues, Taylor & Francis Journals, vol. 5(2), pages 1-19, June.
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    More about this item

    Keywords

    Analysis; Management; Inflation; Public expenditures; Public debt;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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