For a week or two, economists have been throwing a new word into the discussion about the future of the economy: stagflation. A contraction of stagnation and inflation. Or an economy that is stagnating and creating more unemployed while prices continue to rise. Flemish economists think that if there is stagflation, it will mainly be in the US. “Which does not mean that the Flemish money will not be damaged.”
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Stagflation. Sounds new. “But the word actually comes from the 1970s,” says economics professor Paul De Grauwe. “Then there was this huge oil crisis. The sheikhs were angry because in the sixteen-day …
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