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.