What's the Whole of the Whole Phenomenon That We're Going to Discuss Here?

In 19 79, jimmy carter is going to do a cabinet re shuffle. He decides to fill it with an old civil servan named paul vulker. Paul vulker had been a senior treasury official under nixon and was one of the people responsible for breaking convertibility with gold. But he also had a rputation as a guy who was going to take inflation more seriously. And that is exactly what he did,. in ways we will discuss through the rest of this hour.

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