Inflation Fears and the Biden Stimulus: Look to the Korean War, Not Vietnam

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Published Apr 5, 2021

The debate among economists over the size of President Joseph R. Biden Jr.’s $1.9 trillion stimulus package has drawn attention to past cases of inflation spurred by big government spending. Both sides have cited the Vietnam War of the 1960s as a precedent of an outbreak of inflation that would be difficult to reverse. A better historical analogy may be the large but temporary surge in inflation in 1951, related to the Korean War, which did not pose any lasting damage to the US economy.

Video posted with permission of the National Economists Club

https://national-economists.org/event/4-1-nec-webinar-inflation-fears-and-the-biden-stimulus-look-to-the-korean-war-not-vietnam-with-joseph-gagnon-peterson-institute-for-international-economics/

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Inflation Fears and the Biden Stimulus: Look to the Korean War, Not Vietnam

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