Faculty of Humanities and Social Sciences

The lesson of history: inflation is not today's danger

Monday, 18 February 2013

Dr Glen O'Hara, Reader in the History of Public Policy, has contributed another of his semi-regular comment pieces to the online content of The Independent. In it he argues that inflation should not be the main concern of economic policy at the moment, despite recent warnings from the Bank of England is likely to stay relatively high for some time. Historically, he writes, inflation is still low, and given the state of the world economy it is likely to remain low for some time. Instead, economic growth should be the main focus of policymakers trying to steer us out of what economists call the Great Recession.