The Inflationary Seventies

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The Great Inflation

Author : Michael D. Bordo
Publisher : University of Chicago Press
ISBN 13 : 0226066959
Total Pages : 545 pages
Book Rating : 4.2/5 (26 download)

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Book Synopsis The Great Inflation by : Michael D. Bordo

Download or read book The Great Inflation written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2013-06-28 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.

The Great Inflation of the Seventies

Author : Edward Nelson
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (2 download)

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Book Synopsis The Great Inflation of the Seventies by : Edward Nelson

Download or read book The Great Inflation of the Seventies written by Edward Nelson and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper revisits the issue of what factors motivated the macroeconomic policies that led to the Great Inflation of the 1970s. A satisfactory explanation must be consistent with (1) the estimated monetary policy reaction function; (2) the timing patterns relating monetary policy developments and inflation; and (3) the record of economic views (manifested in statements by policymakers and prominent financial commentators). It is argued that the monetary policy neglect hypothesis--which claims that policymakers took a nonmonetary view of the inflation process--meets all three criteria. Other explanations are ruled out, with one exception (the output gap mismeasurement hypothesis), which supplements the monetary policy neglect hypothesis. This conclusion is based on a study of the Great Inflation in both the U.K. and the U.S., and draws on both quantitative and archival evidence, particularly news coverage"--Federal Reserve Bank of St. Louis web site.

America's Only Peacetime Inflation

Author : J. Bradford De Long
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (349 download)

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Book Synopsis America's Only Peacetime Inflation by : J. Bradford De Long

Download or read book America's Only Peacetime Inflation written by J. Bradford De Long and published by . This book was released on 1996 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1970s were America's only peacetime inflation, as uncertainty about prices made every business decision a speculation on monetary policy. In magnitude, the total rise in the price level from the spurt in inflation to the five-to-ten percent per year range in the 1970s was as large as the jumps in prices from the major wars of this century. The truest cause of the 1970s inflation was the shadow of the Great Depression. The memory left by the Depression predisposed the left and center to think that any unemployment was too much, and eliminated any mandate the Federal Reserve might have had for controlling inflation by risking unemployment. The Federal Reserve gained, or regained, its mandate to control inflation at the risk of unemployment during the 1970s as discontent built over that decade's inflation. It is hard to see how the Federal Reserve could have acquired such a mandate without an unpleasant lesson like the inflation of the 1970s. Thus the memory of the Great Depression meant that the U.S. was highly likely to suffer an inflation like the 1970s in the post-World War II period maybe not as long, and maybe not in that particular decade, but nevertheless an inflation of recognizably the same genus

How Did it Happen?

Author : Edward Nelson
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (134 download)

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Book Synopsis How Did it Happen? by : Edward Nelson

Download or read book How Did it Happen? written by Edward Nelson and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Great Inflation and Its Aftermath

Author : Robert J. Samuelson
Publisher : Random House Trade Paperbacks
ISBN 13 : 0812980042
Total Pages : 353 pages
Book Rating : 4.8/5 (129 download)

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Book Synopsis The Great Inflation and Its Aftermath by : Robert J. Samuelson

Download or read book The Great Inflation and Its Aftermath written by Robert J. Samuelson and published by Random House Trade Paperbacks. This book was released on 2010-01-26 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Great Inflation in the 1960s and 1970s, notes award-winning columnist Robert J. Samuelson, played a crucial role in transforming American politics, economy, and everyday life. The direct consequences included stagnation in living standards, a growing belief—both in America and abroad—that the great-power status of the United States was ending, and Ronald Reagan’s election to the presidency in 1980. But that is only half the story. The end of high inflation led to two decades of almost uninterrupted economic growth, rising stock prices and ever-increasing home values. Paradoxically, this prolonged prosperity triggered the economic and financial collapse of 2008 and 2009 by making Americans—from bank executives to ordinary homeowners—overconfident, complacent, and careless. The Great Inflation and its Aftermath, Samuelson contends, demonstrated that we have not yet escaped the boom-and-bust cycles common in the nineteenth and early twentieth centuries. This is a sobering tale essential for anyone who wants to understand today’s world.

Pivotal Decade

Author : Judith Stein
Publisher : Yale University Press
ISBN 13 : 0300163290
Total Pages : 481 pages
Book Rating : 4.3/5 (1 download)

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Book Synopsis Pivotal Decade by : Judith Stein

Download or read book Pivotal Decade written by Judith Stein and published by Yale University Press. This book was released on 2010-05-25 with total page 481 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this fascinating new history, Judith Stein argues that in order to understand our current economic crisis we need to look back to the 1970s and the end of the age of the factory--the era of postwar liberalism, created by the New Deal, whose practices, high wages, and regulated capital produced both robust economic growth and greater income equality. When high oil prices and economic competition from Japan and Germany battered the American economy, new policies--both international and domestic--became necessary. But war was waged against inflation, rather than against unemployment, and the government promoted a balanced budget instead of growth. This, says Stein, marked the beginning of the age of finance and subsequent deregulation, free trade, low taxation, and weak unions that has fostered inequality and now the worst recession in eighty years. Drawing on extensive archival research and covering the economic, intellectual, political, and labor history of the decade, Stein provides a wealth of information on the 1970s. She also shows that to restore prosperity today, America needs a new model: more factories and fewer financial houses. --Publisher's description.

Monetary Policy and the Great Inflation in the United States

Author : Thomas Mayer
Publisher : Edward Elgar Publishing
ISBN 13 :
Total Pages : 178 pages
Book Rating : 4.:/5 (321 download)

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Book Synopsis Monetary Policy and the Great Inflation in the United States by : Thomas Mayer

Download or read book Monetary Policy and the Great Inflation in the United States written by Thomas Mayer and published by Edward Elgar Publishing. This book was released on 1999 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mayer (economics, emeritus, U. of California-Davis) analyzes the great inflation of the late 1960s and 1970s using documentary evidence, including minutes, memos, and reports, as well as interviews with people who were closely involved in making policy decisions. He concludes that much of the responsibility for the policies lies with academic economists who, he believes, underestimated the dangers of inflation and encouraged the Federal Reserve to focus on an unattainable employment goal. Annotation copyrighted by Book News, Inc., Portland, OR

The 1970s

Author : Thomas Borstelmann
Publisher : Princeton University Press
ISBN 13 : 0691141568
Total Pages : 417 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis The 1970s by : Thomas Borstelmann

Download or read book The 1970s written by Thomas Borstelmann and published by Princeton University Press. This book was released on 2012 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: A compelling framework for understanding the importance of the 1970s for America and the world The 1970s looks at an iconic decade when the cultural left and economic right came to the fore in American society and the world at large. While many have seen the 1970s as simply a period of failures epitomized by Watergate, inflation, the oil crisis, global unrest, and disillusionment with military efforts in Vietnam, Thomas Borstelmann creates a new framework for understanding the period and its legacy. He demonstrates how the 1970s increased social inclusiveness and, at the same time, encouraged commitments to the free market and wariness of government. As a result, American culture and much of the rest of the world became more—and less—equal. Borstelmann explores how the 1970s forged the contours of contemporary America. Military, political, and economic crises undercut citizens' confidence in government. Free market enthusiasm led to lower taxes, a volunteer army, individual 401(k) retirement plans, free agency in sports, deregulated airlines, and expansions in gambling and pornography. At the same time, the movement for civil rights grew, promoting changes for women, gays, immigrants, and the disabled. And developments were not limited to the United States. Many countries gave up colonial and racial hierarchies to develop a new formal commitment to human rights, while economic deregulation spread to other parts of the world, from Chile and the United Kingdom to China. Placing a tempestuous political culture within a global perspective, The 1970s shows that the decade wrought irrevocable transformations upon American society and the broader world that continue to resonate today.

Something Happened

Author : Edward D. Berkowitz
Publisher : Columbia University Press
ISBN 13 : 0231500513
Total Pages : 457 pages
Book Rating : 4.2/5 (315 download)

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Book Synopsis Something Happened by : Edward D. Berkowitz

Download or read book Something Happened written by Edward D. Berkowitz and published by Columbia University Press. This book was released on 2005-12-27 with total page 457 pages. Available in PDF, EPUB and Kindle. Book excerpt: In both the literal and metaphorical senses, it seemed as if 1970s America was running out of gas. The decade not only witnessed long lines at gas stations but a citizenry that had grown weary and disillusioned. High unemployment, runaway inflation, and the energy crisis, caused in part by U.S. dependence on Arab oil, characterized an increasingly bleak economic situation. As Edward D. Berkowitz demonstrates, the end of the postwar economic boom, Watergate, and defeat in Vietnam led to an unraveling of the national consensus. During the decade, ideas about the United States, how it should be governed, and how its economy should be managed changed dramatically. Berkowitz argues that the postwar faith in sweeping social programs and a global U.S. mission was replaced by a more skeptical attitude about government's ability to positively affect society. From Woody Allen to Watergate, from the decline of the steel industry to the rise of Bill Gates, and from Saturday Night Fever to the Sunday morning fervor of evangelical preachers, Berkowitz captures the history, tone, and spirit of the seventies. He explores the decade's major political events and movements, including the rise and fall of détente, congressional reform, changes in healthcare policies, and the hostage crisis in Iran. The seventies also gave birth to several social movements and the "rights revolution," in which women, gays and lesbians, and people with disabilities all successfully fought for greater legal and social recognition. At the same time, reaction to these social movements as well as the issue of abortion introduced a new facet into American political life-the rise of powerful, politically conservative religious organizations and activists. Berkowitz also considers important shifts in American popular culture, recounting the creative renaissance in American film as well as the birth of the Hollywood blockbuster. He discusses how television programs such as All in the Family and Charlie's Angels offered Americans both a reflection of and an escape from the problems gripping the country.

Making Thatcher's Britain

Author : Ben Jackson
Publisher : Cambridge University Press
ISBN 13 : 1107012384
Total Pages : 369 pages
Book Rating : 4.1/5 (7 download)

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Book Synopsis Making Thatcher's Britain by : Ben Jackson

Download or read book Making Thatcher's Britain written by Ben Jackson and published by Cambridge University Press. This book was released on 2012-08-02 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book situates the controversial Thatcher era in the political, social, cultural and economic history of modern Britain.

Economic Policy and the Great Stagflation

Author : Alan S. Blinder
Publisher : Elsevier
ISBN 13 : 1483264564
Total Pages : 244 pages
Book Rating : 4.4/5 (832 download)

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Book Synopsis Economic Policy and the Great Stagflation by : Alan S. Blinder

Download or read book Economic Policy and the Great Stagflation written by Alan S. Blinder and published by Elsevier. This book was released on 2013-09-11 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic Policy and the Great Stagflation discusses the national economic policy and economics as a policy-oriented science. This book summarizes what economists do and do not know about the inflation and recession that affected the U.S. economy during the years of the Great Stagflation in the mid-1970s. The topics discussed include the basic concepts of stagflation, turbulent economic history of 1971-1976, anatomy of the great recession and inflation, and legacy of the Great Stagflation. The relation of wage-price controls, fiscal policy, and monetary policy to the Great Stagflation is also elaborated. This publication is beneficial to economists and students researching on the history of the Great Stagflation and policy errors of the 1970s.

The inflation crisis, and how to resolve it

Author : Henry Hazlitt
Publisher : Ludwig von Mises Institute
ISBN 13 : 1610164261
Total Pages : 198 pages
Book Rating : 4.6/5 (11 download)

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Book Synopsis The inflation crisis, and how to resolve it by : Henry Hazlitt

Download or read book The inflation crisis, and how to resolve it written by Henry Hazlitt and published by Ludwig von Mises Institute. This book was released on 1978 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Inflation Expectations

Author : Peter J. N. Sinclair
Publisher : Routledge
ISBN 13 : 1135179778
Total Pages : 402 pages
Book Rating : 4.1/5 (351 download)

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Book Synopsis Inflation Expectations by : Peter J. N. Sinclair

Download or read book Inflation Expectations written by Peter J. N. Sinclair and published by Routledge. This book was released on 2009-12-16 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.

If We Can Keep It

Author : Michael Tomasky
Publisher : National Geographic Books
ISBN 13 : 1631497855
Total Pages : 0 pages
Book Rating : 4.6/5 (314 download)

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Book Synopsis If We Can Keep It by : Michael Tomasky

Download or read book If We Can Keep It written by Michael Tomasky and published by National Geographic Books. This book was released on 2020-06-30 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A game-changing account of the deep roots of political polarization in America, including an audacious fourteen-point agenda for how to fix it. Why has American politics fallen into such a state of horrible dysfunction? Can it ever be fixed? These are the questions that motivate Michael Tomasky’s deeply original examination into the origins of our hopelessly polarized nation. “One of America’s finest political commentators” (Michael J. Sandel), Tomasky ranges across centuries and disciplines to show how America has almost always had two dominant parties that are existentially, and often violently, opposed. When he turns to our current era, he does so with striking insight that will challenge readers to reexamine what they thought they knew. Finally, not content merely to diagnose these problems, Tomasky offers a provocative agenda for how we can help fix our broken political system—from ranked-choice voting and at-large congressional elections to expanding high school civics education nationwide. Combining revelatory data with trenchant analysis, Tomasky tells us how the nation broke apart and points us toward a more hopeful political future.

Best of the Seventies / Book #2

Author : George Gladir
Publisher : Archie Comic Publications (Trade)
ISBN 13 : 1627388567
Total Pages : 99 pages
Book Rating : 4.6/5 (273 download)

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Book Synopsis Best of the Seventies / Book #2 by : George Gladir

Download or read book Best of the Seventies / Book #2 written by George Gladir and published by Archie Comic Publications (Trade). This book was released on 2015-07-07 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt: Archie and the Gang get down to some groovy stories from the Seventies! The '70s were a time for reflection, embracing the past while looking ahead to the future. As always, Archie and his friends were along for the ride, partaking of the best the decade had to offer. By popular demand, we're proud to present this second volume of classic Archie stories from the sensational Seventies! This follow-up to the original Best of the Seventies features more of the best stories of the 1970s collected into one high-grade volume. Witness as Archie and his friends get involved in one hysterical situation after another, and enjoy the fads and fashions of the decade: social relevance! The ERA! Inflation! The Bicentennial! Disco! Seventies teen idols! It's all here and more, in one amazing book. All we can say is... have a nice day!

The Seventies

Author : Bruce J. Schulman
Publisher : Simon and Schuster
ISBN 13 : 0743219481
Total Pages : 353 pages
Book Rating : 4.7/5 (432 download)

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Book Synopsis The Seventies by : Bruce J. Schulman

Download or read book The Seventies written by Bruce J. Schulman and published by Simon and Schuster. This book was released on 2001-08-07 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most of us think of the 1970s as an "in-between" decade, the uninspiring years that happened to fall between the excitement of the 1960s and the Reagan Revolution. A kitschy period summed up as the "Me Decade," it was the time of Watergate and the end of Vietnam, of malaise and gas lines, but of nothing revolutionary, nothing with long-lasting significance. In the first full history of the period, Bruce Schulman, a rising young cultural and political historian, sweeps away misconception after misconception about the 1970s. In a fast-paced, wide-ranging, and brilliant reexamination of the decade's politics, culture, and social and religious upheaval, he argues that the Seventies were one of the most important of the postwar twentieth-century decades. The Seventies witnessed a profound shift in the balance of power in American politics, economics, and culture, all driven by the vast growth of the Sunbelt. Country music, a southern silent majority, a boom in "enthusiastic" religion, and southern California New Age movements were just a few of the products of the new demographics. Others were even more profound: among them, public life as we knew it died a swift death. The Seventies offers a masterly reconstruction of high and low culture, of public events and private lives, of Jonathan Livingston Seagull, Evel Knievel, est, Nixon, Carter, and Reagan. From The Godfather and Network to the Ramones and Jimmy Buffett; from Billie jean King and Bobby Riggs to Phyllis Schlafly and NOW; from Proposition 13 to the Energy Crisis; here are all the names, faces, and movements that once filled our airwaves, and now live again. The Seventies is powerfully argued, compulsively readable, and deeply provocative.

21st Century Monetary Policy: The Federal Reserve from the Great Inflation to COVID-19

Author : Ben S. Bernanke
Publisher : W. W. Norton & Company
ISBN 13 : 1324020474
Total Pages : 448 pages
Book Rating : 4.3/5 (24 download)

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Book Synopsis 21st Century Monetary Policy: The Federal Reserve from the Great Inflation to COVID-19 by : Ben S. Bernanke

Download or read book 21st Century Monetary Policy: The Federal Reserve from the Great Inflation to COVID-19 written by Ben S. Bernanke and published by W. W. Norton & Company. This book was released on 2022-05-17 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: 21st Century Monetary Policy takes readers inside the Federal Reserve, explaining what it does and why. In response to the COVID-19 pandemic, the Federal Reserve deployed an extraordinary range of policy tools that helped prevent the collapse of the financial system and the U.S. economy. Chair Jerome Powell and his colleagues lent directly to U.S. businesses, purchased trillions of dollars of government securities, pumped dollars into the international financial system, and crafted a new framework for monetary policy that emphasized job creation. These strategies would have astonished Powell’s late-20th-century predecessors, from William McChesney Martin to Alan Greenspan, and the advent of these tools raises new questions about the future landscape of economic policy. In 21st Century Monetary Policy, Ben S. Bernanke—former chair of the Federal Reserve and one of the world’s leading economists—explains the Fed’s evolution and speculates on its future. Taking a fresh look at the bank’s policymaking over the past seventy years, including his own time as chair, Bernanke shows how changes in the economy have driven the Fed’s innovations. He also lays out new challenges confronting the Fed, including the return of inflation, cryptocurrencies, increased risks of financial instability, and threats to its independence. Beyond explaining the central bank’s new policymaking tools, Bernanke also captures the drama of moments when so much hung on the Fed’s decisions, as well as the personalities and philosophies of those who led the institution.