Stagflation: Useful lessons from the 70s
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Thank you David - very helpful - concise and clear
Thanks David. New layout is a great improvemen!
Thanks David. Nice discussion. In the back of my head always felt the 70's inflation had its genesis in the Vietnam War spending and the Democrat social policies. So had a quick look at deficit figures. Can't believe these numbers https://fred.stlouisfed.org/series/FYFSGDA188S
No wonder economy wide productivity is falling! Does fed government employment move in line with these numbers or is it more about tax reductions and income transfers? Does the state activity go in the same direction?