The Great Inflation and Its Aftermath

The Great Inflation and Its Aftermath

The Past and Future of American Affluence

Book - 2008
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The Great Inflation, argues journalist Samuelson, was the worst domestic policy blunder of the postwar era and played a crucial role in transforming American politics, economy, and everyday life--and yet its story is hardly remembered or appreciated. From 1960 to 1979, inflation rose from barely more than 1 percent to nearly 14 percent--the greatest peacetime inflationary spike in this nation's history. It had massive repercussions in every area of our lives. The direct consequences included Ronald Reagan's election in 1980, stagnation in living standards, and a growing belief that the great-power status of the United States was ending. The end of high inflation in the brutal 1981-82 recession, engineered by the Federal Reserve under then-chairman Paul Volcker, triggered economic and social changes that are still with us. The stock market and housing booms were both direct outcomes; American business became more productive--and also much less protective of workers; and globalization was encouraged.--From publisher description.
Publisher: New York : Random House, c2008
Edition: 1st ed
ISBN: 9780375505485
0375505482
Branch Call Number: Business & Career 332.41 SAM

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i
isilver
Jan 17, 2011

Excellent account and explanation of the era of high price and interest rate inflation that peaked in the early 1980s and which demonstrates that little was learned by the policy makers between then and the more recent financial crisis.

m
Meconopsis
Dec 13, 2009

A book that should be read by anyone that is interested in investing in the stock market. The experience of those who lived during this period created unreal expectations of the future for them. The fact that inflation disguised the poor performance of firms through what looked like exceptional profits is quite a surprise.

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