The peculiar behaviour of inflation in Nigeria, By 'Tope Fasua
Nigeria, May 18 -- Inflation - the rate of increase in the prices of goods and services over a given period of time - was famously described by President Ronald Reagan as 'the greatest enemy of all the people and of our hopes for economic growth' perhaps because it is a phenomenon that creeps up silently and erodes wealth, indiscriminate of status, gender or your estate in life, and national economic growth must be considered net of inflation. Reagan's statement was an amplification of the strong monetarist postulations of Professor Milton Friedman, which became received wisdom around the world. And why not? Maynard Keynes and his global push for fiscalism by which he opined that governments must stand by to bail out the economy whenever ...
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