The purpose of this thesis is to analyze the structure of stag-flation come into being after World War Ⅱ. A typical Peculiarity of the modern capitalism is continuous infla of growing process.
The modern inflation is principal axis of domestic fac...
The purpose of this thesis is to analyze the structure of stag-flation come into being after World War Ⅱ. A typical Peculiarity of the modern capitalism is continuous infla of growing process.
The modern inflation is principal axis of domestic factor of rising in price. This can't intercepted by domestic factor, on the contrary, being caused in mechanism of spreading infla in the international. By the background of progression on a sudden innovation after World War Ⅱ, The variety of relative price system is advancing; The level of prices which trends to continuous rise.
therefore, the variety in need of a relative price system, through the rise of a absolute price level, was made to realize a mechanism.
the two-support of composing the machanism:
(1) oligopoly economic structure,
(2) to promote effective demand become a powerful spending policy.
Furthermore, as if it is the post war economy, The demand of infla-money for high degree growth is continuous increasing. This infla-money is invested to improve the productivity of export leading pattern.
Cousequently, in this industry branch, rise of productivity →cost down→constant price →super profit of high rate arise. But in the low productivity branch cost pushed, having been influenced by the high rate wage resulted from stringency of labor's supply and demand.
Thus, the stabilization of wholesale prices and rise of consumer's price was generated, that is to say, the infla gap of productivity occurs. this growth infla must soon have spreaded internationally. Recently, the dollar in the U.S.A is only standard of world price; therefore, each country takes a symmetry the balance of payments with the U.S.A., foreign exchange rate is stabilized, at the same time, it is direct connection with domestic monetary value.
those factors make a possibility of infla in the opened economic system. Accordingly, the modern infla structure:
(1) it is related with the balance of payments;
(2) it is related with gold reserve point of the U.S.A;
(3) it is proceeding with being restricted of the dollar devaluation.
nevertheless, the modern capitalism which must have escaped defla effect, instead of functioning of automatic adjustment of the belance of payments, to be contain the devaluation must have created the economic flow system.
Thus, dollar crisis which caused the collapse of IMF system of the modern center of dollar brought to a crisis in the international monetary system. it was caused to be continuous world inflation.
In the 1960s, the continuous deficit of balance of payments in the U.S.A. and European countries, and Japan surplus caused the disequilibrium development of the international productivity.
This bring about infla of the international disequilibrium development. adopting inflationary accumulative policy, in the modern capitalism get free from depression. Particularly, as America is a central country of the modern capitalism, so that she makes strongly her propulsion. in consequence of, she has been confronted the proceeding of infla than other countries. in this way, the infla of america through deficit of the balance of payments was exported into the surplus country; and propelled the world inflation.