In the 1970s and early 1980s, this magazine was full of debates and worries about inflation: its causes, its costs, possible remedies.(The Week)(Brief Article)

In the 1970s and early 1980s, this magazine was full of debates and worries about inflation: its causes, its costs, possible remedies. In other fora, intelligent people fretted that endemic inflation was, like the crime wave, a sign that democracies could not properly govern themselves. That it is now hard to summon the mood of those discussions is a tribute to Federal Reserve chairman Alan Greenspan, above almost all others. His predecessor, Paul Volcker, began the fight against inflation. But it was during Greenspan's two decades in office that roughly stable ...