3 Review(s)

Inflation can come in various forms, sometimes by printing too much money, sometimes by supply shortages, sometimes by incompetent domestic policies, and sometimes by unpredictable geopolitical events. The Great Inflation was the result of all these forces coming together. It was a period in the 1970s that fundamentally reshaped not just the economy but also the domestic and foreign policies of the United States. While the oil shocks of 1973 and 1979 triggered the crisis, they were only fueling the inflation that was already hidden in the economy.