A Monetary Prescription for an Ailing Economy

T IS good to have this opportunity to present my views regarding inflation and the economic outlook. I find it rather sobering to reflect that our country, as well as most other major industrial countries, has experienced almost a decade of rising inflation. In reviewing economic history, I find that we are at a point similar to 1939 in that then too our country, along with the rest of the world, was ending a decade of economic difficultya recession. The disquieting similarity is that in both instances some prominent individuals could see no end to the situation in sight and counseled us to learn to live with it.