People lost their jobs at that time not because of inflation, but because of Volcker's efforts to reign in inflation. Throwing people out of work was a feature

People lost their jobs at that time not because of inflation, but because of Volcker's efforts to reign in inflation. Throwing people out of work was a feature not a bug. Raising unemployment was his objective, and he achieved that. That's certainly one way to go, but it's not the only way to go. It's not the way I would have gone.