Stagflation: a demand or supply side story?

Michael Roberts Blog

The semi-annual meetings of the IMF and World Bank start today where finance ministers and central bankers will meet in a slimmed-down but in-person gatherings in Washington.  This meeting is likely to be overshadowed by the scandal involving the IMF chief Kristalina Georgieva, who may well have been forced to resign as I write after a devastating report on the machinations of senior World Bank officials several years ago.  Georgieva has been accused of manipulating data on ‘Doing Business’ to favour China, Saudi Arabia and other states while she was at the World Bank several years ago. The scandal has divided IMF members, with the US pushing for her to go and European powers wanting her to stay.

But more important than even whether we can ever rely on the scientific honesty of the World Bank and the IMF is what is happening to the world economy as these…

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