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The Politics of Inflation
These Times
The IMF and the Stop-Start Economy
Inflation in 1970 had got to 5%. It was then 10% in 1971 and 26% in 1975 following the oil price shock. The result was this stop-start economy, which we had throughout this period. In essence, I think that's what Thatcher does in 1980. This giant recession gets rid of inflation for a short period anyway.
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