Domestic Economy

The Wage-Price Spiral

The Wage-Price Spiral
The Wage-Price Spiral

Politicians and statesmen are all unanimously urging people to stay calm, as we are witnessing a rise in the prices of some goods. 
One says he will keep the price of bread unchanged, the other says he will reinstate rationing, one orders prices to get lower and the other labels price hikes as foreign conspiracy. 
The incumbent office-holders are blaming former office-holders; at the end of the day, the blame rests with the people, not the economic realities. What is behind such a view toward prices is the belief that a successful government is one that can keep the prices low and goods plentiful, Ali Dadpay, an economist, prefaced his article for the Persian economic daily Donya-e-Eqtesad with this note. A translation of the text follows:


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