The Impact of Inflation on the Developing Economy: The Brazilian Case

No generation in history has encompassed such rapid, marked and widespread change in man’s environment as that of our own. To a large degree many of these changes have been induced by remarkable advances made in the physical sciences—the incredible truncation of distances occasioned by the advent of jet transportation; the awesome power placed in the hands of man by the discovery of nuclear fission; the arrival of the age when man’s material goods can be created without the hand of man by applying computer-controlled automated systems to the tasks of production; man’s first feeble venturing into the unbounded limits of space enabled by the coming of age of missile technology. These advances, the fruits of the physical sciences, impinge directly upon man’s social, political, and economic environment. Thus man is faced with problems and challenges that a few short decades ago were undreamed.

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