Science Leadership Academy

Both blogs 7 and 8 can be related since they both have to do with solving the problem of inflation in the past. Post 7 was from '52, and 8 is from '80.

Here's the document I found. It's downloadable as a PDF file.

The document has some relatively modern ideas, even though it's from 1980. That shows the similarities of inflation in both old times and new. People look at inflation in one point of view. The point of view is "This is inflation, and what it is. This is how we can solve it." That's how inflation is looked at in both today's world, and the world of the 1980's.

I was reading though the one-page file, and a couple of sentences really caught my attention. They read "Inflation never has and never will go away; We think were intelligent reason motivated decision makers still our company and country leadership still talks about inflation "Going away" Never!" Agreed, about the inflation will never and has never gone away part. Inflation can be lowered to a very small percentage, but is extremely difficult to get rid of, and according to the file, impossible to get rid of.

So, instead of trying to get rid of it, the article gives ideas on how to lower it. Here are a couple of them: "Stop catching up; no increases of any kind for 90 days; Hardship - yes - otherwise disaster for everyone; Have no cuts in the value of our money; report the decreases in the value of our money instead of "inflation" decrease in cents per dollar".  It's kind of hard to follow, since it's more of an outline than an explanation, but nevertheless gives you an idea of how economists would solve inflation back in the 1980's. The page even satted that a movement should be lead, and when directors are unclear, that is the time for a thrust. I wasn't too sure what the author meant by this, but It was a pretty interesting little find.