Economics
Stagflation in The 1970s Video Analysis Stagflation & High Oil Prices Discussion

Question Description

I’m trying to study for my Economics course and I need some help to understand this question.

DB 3: Stagflation

Watch the above videos. Once you have done this click on the above link "Stagflation DB" and create a thread with at least one page answering and explaining the following:

  • What factors contributed to the stagflation of the 1970s?
  • How did Volker deal with the high inflation?
  • Did high oil prices cause the stagflation or was it something else?
  • Is the Fed independent? If so, how do our leaders ensure they maintain the best interests of the public?
  • How does Milton Friedman establish his view that inflation is a monetary issue?
  • According to Friedman, do trade unions cause inflation by pushing up wages and the cost of production?
  • After you post your narrative, reply to at least two other student's comments. Explain why you agree, or better yet, find others that take a different position and explain why you disagree.

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Final Answer

Find attached.

Running head: STAGFLATION

1

STAGFLATION
Name of Student
Institution Affiliation
Date

2

STAGFLATION
STAGFLATION
1.

What factors contributed to the stagflation of the 1970s?

Monetary policy control by the Central Bank was too loose, and the money supply was growing
faster than the economy. Countries experienced a period whereby the central bank produced more
currency.
2.

How did Volker deal with high inflation?

Volker laid focus on increasing th...

MrMark (19771)
University of Maryland

Anonymous
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