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Unemployment Latin America

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CALIFORNIA | LOCAL
October 8, 1998 | ROBERT B. REICH
Economic policymakers have been fighting the last war so long, they can't see they're entering a different battle on the opposite front. The old war was against inflation. It shaped the fears of those who watched it get out of control in the 1970s. These are the same people who now run the central banks, ministries and international lending institutions. Yet the inflation war is over. The new enemy approaches from the opposite direction: spiraling deflation.
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