Return of the i-word

One of the criticisms of the Franco-German plan for the eurozone is that it could be powerfully deflationary. It has been described as an "austerity pact" so could inflation be the medicine Europe needs?

For years the world has lived in fear of the i-word. The former US President Ronald Reagan famously described inflation as "as violent as a mugger, as frightening as an armed robber and as deadly as a hitman".

Kenneth Rogoff, is a Harvard Professor of Economics who has spent much of his professional life warning of the risks of inflation - first at the Federal Reserve, then at the IMF. He now believes rising prices could be helpful, Justin Rowlatt asks him why.

Also, youth unemployment across the Middle East and North Africa is very high; the desperation of large numbers of jobless young men and women fed into the uprisings across the Arab world.

All this week across radio, TV and online the BBC are focusing on the Young and Jobless. We start with Libya. Under Colonel Gaddafi, the unemployment rate for young people is thought to have been about 30%. This year's war has seen that figure spiral upwards.

But there's now another element makes which the problem a far more urgent one - a lot of unemployed men took up arms against the Gaddafi army. They now have nothing to do other than roam the streets of Libya's cities with their weapons. Business Daily's Rob Young reports.

Plus: Lucy Kellaway suggests an unusual guardian of companies' morals - a teddy bear.

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18 minutes

Last on

Mon 12 Dec 2011 08:32 GMT

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