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The historical relationship between inflation and political rebellion, and what it might teach us about neoliberalism

  • Cohen, Joseph N
  • Linton, April

Chronic inflation is argued to be politically destabilizing. We examine data on inflation and political instability that goes as far back as 500 years. Although the behavior of both prices and political rebellion have changed over these five centuries, and enduring relationship between price and political destabilization appears in our analyses. This relationship may provide insight into the context from which neoliberalism emerged, potential reasons for its failure, and some of the key dilemmas upon which the post-2008 global economic order may hinge

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 22522.

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Date of creation: Feb 2010
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Handle: RePEc:pra:mprapa:22522
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  1. Robert J. Shiller, 1997. "Why Do People Dislike Inflation?," NBER Chapters, in: Reducing Inflation: Motivation and Strategy, pages 13-70 National Bureau of Economic Research, Inc.
  2. Ehrenberg, Ronald G & Danziger, Leif & San, Gee, 1983. "Cost-of-Living Adjustment Clauses in Union Contracts: A Summary of Results," Journal of Labor Economics, University of Chicago Press, vol. 1(3), pages 215-45, July.
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  13. Robert B. Barsky & Lutz Kilian, 2001. "Do We Really Know that Oil Caused the Great Stagflation? A Monetary Alternative," NBER Working Papers 8389, National Bureau of Economic Research, Inc.
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  16. Jeffrey D. Sachs, 1989. "Developing Country Debt and the World Economy," NBER Books, National Bureau of Economic Research, Inc, number sach89-3, September.
  17. Bruton, H.J., 1998. "A Reconsideration of Import Substitution," Center for Development Economics 156, Department of Economics, Williams College.
  18. William R. Thompson & L. Gary Zuk, 1982. "War, Inflation, and the Kondratieff Long Wave," Journal of Conflict Resolution, Peace Science Society (International), vol. 26(4), pages 621-644, December.
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