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Economic Policy and the Great Stagflation discusses the national economic policy and economics as a policyoriented 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 mid1970s.The topics discussed include the basic concepts of stagflation, turbulent economic history of 19711976, anatomy of the great recession and inflation, and legacy of the Great Stagflation. The relation of wageprice 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.
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