jan 19, 1970 - The 1970’s - stagflation
Description:
A stagflation is a period of economic stagnation accompanied by a high rate of inflation. The stagflation in the 1970’s has been attributed to many things but one of the things consistent, at least on the inflation side, is the keynesian economic policy which caused the government to put more money into the economy. The increased amount of money circulating in the system inherently reduces its value and causes inflation. The stagnant part is up to debate, some believe it was the oil crash, others think it was inevitable with keynesian policy. Overall while the stagnation was not a “shift” it was caused by left wing policy where the government intervened in the economy, causing inflation.
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Economics/Politics Prjoect
By: Patrick Golden And Jakob Allan
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