Robert Samuelson on the Great Inflation, Its History and Its Legacy
Macro Musings with David Beckworth
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The Impact of High Inflation on American History
The chapter explores the historical context and repercussions of the Great Inflation period, portraying it as a multifaceted crisis that shaped American society, politics, and beliefs. It delves into the challenges faced in combating inflation, the political dynamics involved, and the implications for future economic policies. The discussion also touches on the use of wage and price controls, the role of key figures like Paul Volcker and Ronald Reagan, and the enduring impact of high inflation on American attitudes and perceptions.
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