Wanted: Dangerous Escapees: Wages, prices, Interest Rates
Geoff Pryor
In economics, the problems don’t change, just the actors. Malcolm Fraser made John Howard his treasurer at the tender age of 38. He held the job until the government was defeated in 1983, giving him plenty of experience struggling to hold down wages and prices, without the need to use high interest rates to get them back down. But they did have to rise later on.
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