Harness interests of the rich to help fight inflation: Berkeley don

Singapore

THE interests of the wealthy can be harnessed to help countries fight inflation, said a visiting economist from the Haas School of Business in University of California, Berkeley.

"If the government creates a certain type of financial market, for example a local currency long term bond market, it will then create a political constituency that gains from low and stable inflation," said Professor Andrew Rose, Berkeley's Rocca Professor of International Business.

Prof Rose, who is currently the Monetary Authority of Singapore (MAS) Term Professor in Economics and Finance for two months from May 25, was giving a public lecture at the National University of Singapore…