Hyper inflation has plagued most of the world's developing countries over the past decades. Countries in the industrialised world, too, have at times duelled with dangerously high inflation rates in the post WWII era. With varying degrees of success, all have employed great efforts to bring their inflation rates within acceptable limits. Generally, a moderate rate of inflation has been the ultimate goal. More recently, however, a few countries have pursued policies that strive to …
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…Pierre Fortin, public opinion is starting to reflect the reality that "promised 'large benefits' from zero inflation are actually a mirage and that the 'small' unemployment costs are actually huge." This opinion has been voiced particularly loudly by Japan and France. And unless the elusive benefits of zero inflation soon manifest themselves, it is only a matter of time before the rest of the 'no inflation' pack realises they are barking up the wrong tree.