I appreciate your steelmanning, and while I meant it more geopolitically than financially, of course it all boils down to financial policy and it's reasons and justifications both prior to major changes (Bretton woods, The Fed, 1968, 1971 etc) and afterwards. Your steelmanning though has helped me to understand how academics I talk to are likely to be thinking about the topic, so I know now what I need to read up on. Thanks.

Anybody know any good treatises on inflation?