While I have not rigorously researched that issue, I would call it a plausible view: the state is a single market actor, so outside markets driven entirely by state demand (which, admittedly, are myriad), the state’s problems don’t affect general price-levels.
While I have not rigorously researched that issue, I would call it a plausible view: the state is a single market actor, so outside markets driven entirely by state demand (which, admittedly, are myriad), the state’s problems don’t affect general price-levels.