Many issues here, as in a lot of SSC stuff, I'll pick one for fun > Stagflation is not a strange monster from legend. It is, Jacobs says, just the normal state

Many issues here, as in a lot of SSC stuff, I'll pick one for fun > Stagflation is not a strange monster from legend. It is, Jacobs says, just the normal state of everything. Backward economies are in fact constantly in a state of stagflation. Prices didn't use to change persistently upward! That's an industrial revolution time. Stagflation is pretty well and conventionally understood by monetary econ at this point. https://fred.stlouisfed.org/graph/?g=1Jg6G https://fred.stlouisfed.org/graph/?g=1Jg6G