With the United States’ disastrous exit from Afghanistan, the parallels between the 2020s and the 1970s just keep growing.
Has a sustained period of high inflation just become much more likely? Until recently, I would have said the odds were clearly against it. Now, I am not so sure, especially looking ahead a few years.
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Project Syndicate
Kenneth Rogoff is a former chief economist of the International Monetary Fund and Professor of Economics and Public Policy at Harvard University.
