Letters to the Editor

Inflation's roots

Editor, the Journal,

Bill Pfender wrote in last week's Journal that inflation is caused by capitalism. Huh?

How does he explain Venezuela? All socialist economies experience inflation, Mr. Pfender. See "The Problem of Inflation in Socialist Countries," Kazimierz Laski and Michael Vale, Eastern European Economics, Vol. 17, No. 4 (Summer 1979), pp. 3-84 (82 pages), published by Taylor & Francis. See also, The New York Times article, "A New Soviet Candor: Inflation Under Communism," Bill Keller, 1988. There are many, many more cites if you care to do a few minutes research.

Infl...