#8205 Re: Nixon had run away inflation. He did a wage and price freeze to combat run away inflation.
18 Aug 2024 10:51 am
YepBidencrimefamily » 18 Aug 2024, 10:23 am » wrote: ↑ 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.
https://www.nber.org › chapters
The Anatomy of Double-Digit Inflation in the 1970s