#8180 Re: Nixon had run away inflation. He did a wage and price freeze to combat run away inflation.
18 Aug 2024 10:25 am
Zeets2 » 18 Aug 2024, 10:24 am » wrote: ↑ Excellent response!
Just don't hold your breath waiting for the fake news media to bring it up!
What caused inflation in the 1970s?
The dramatic acceleration of inflation between 1972 and 1974 can be traced mainly to three "shocks": rising food prices, rising energy prices, and the end of the Nixon wage-price controls program. Each of these can be conceptualized as requiring rapid adjustments of some relative prices.
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https://www.nber.org › chapters The Anatomy of Double-Digit Inflation in the 1970s