First published in the mid-1970s, Inflation or Depression attributes the contemporary world economic crisis to the post-Vietnam War decline of the U.S. as a preeminent world economic power.
Rather than offering abstract economic theory, Gonick's analysis is based on the actual behaviour of multinational corporations, on the links that bind Western economies together, and on the limitations determining the economic policies of Canada and other countries. The author traces a consistent pattern by which U.S. policymakers intentionally exported their economic problems abroad during the early '70s.
Inflation or Depression offers a bold interpretation of the malaise affecting the world economy at the beginning of the 1970s.
About the author
CY GONICK is a retired professor of Economics at the University of Manitoba. At the university he founded the Labour Studies Program in the Faculty of Arts. He also served in the Manitoba legislature for River Heights, 1969-1973.