Letter: The personal price that must be paid for the pursuit of zero inflation

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The Independent Online
Sir: Our Government is constantly telling us that the present rate of unemployment (2.75 million) is regrettable, but a price well worth paying in our battle to achieve zero inflation. Oddly enough, I have never met an unemployed person who endorses this opinion.

I am old enough to have a clear recollection of the early Thirties, when we had zero inflation. It was not a happy time. We also had zero prosperity, zero employment and the widespread misery inseparable from those conditions. I wonder why our Government is so sure it will all be so very different this time round?

Yours faithfully,

GRAHAM DON

London, E3

16 September

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