History of the United States II / Unit 15 USH2 2136 short lesson, about 20 seconds
Stagflation
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The idea
By the early nineteen seventies the economy suffered what Digital History calls stagnation, high unemployment and inflation together.
In practice
Arab nations cutting oil production by twenty-five percent, with sixty percent of the non-Communist world's reserves, as Digital History notes.
Where people slip
Digital History calls economic policy in the decade a nightmare of confusion and contradiction.
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