Stagflation (1 sept. 1973 – 1 mars 1982)
Description:
Stagnant Inflation (Nixons fault)- increased fed spending
- International competition
- Org. of petrolium exporting countries (OPEC), US not prepared to find own oil, dependent on OPEC
- Deindustrialization
- Workers lack skills
- Inequality of wealth and income
*Nixon failed to slow inflation, higher interest rates, freeze on wages, prices rise 12%
Ajouté au bande de temps:
Date:
1 sept. 1973
1 mars 1982
~ 8 years and 6 months