The Great Inflation and Its Aftermath

The Transformation of America's Economy, Politics, and Society

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Last edited by MARC Bot
July 22, 2019 | History

The Great Inflation and Its Aftermath

The Transformation of America's Economy, Politics, and Society

  • 2 Want to read

It's a giant gap in our history. The Great Inflation, argues award-winning columnist Robert J. Samuelson in this provocative book, 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. In these uncertain economic times, it is more imperative than ever that we understand what happened in the 1960s and 1970s, lest we be doomed to repeat our mistakes.From 1960 to 1979, inflation rose from barely more than 1 percent to nearly 14 percent. It was the greatest peacetime inflationary spike in this nation's history, and it had massive repercussions in every area of our lives. The direct consequences included Ronald Reagan's election to the presidency in 1980, stagnation in living standards, and a growing belief--both in America and abroad--that the great-power status of the United States was ending. The Great Inflation and Its Aftermath traces the origins and rise of double-digit inflation and its fall in the brutal 1981-82 recession, engineered by the Federal Reserve under then-chairman Paul Volcker and with the staunch backing of Reagan.But that is only half the story. The end of high inflation 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. We cannot understand today's world, Samuelson contends, without understanding the Great Inflation and its aftermath. Nor can we prepare for the future unless we heed its lessons. This incisive and enlightening book will stand as the authoritative account of a watershed event of our times.Praise for The Great Inflation and Its Aftermath "Newsweek and Washington Post columnist Samuelson is one of the rare journalists who debates politics and economics with a healthy skepticism toward conventional wisdom. Politicians would do well to study [the errors] the past that teach that choosing quick fixes only delays and worsens the inevitable."-- Booklist"If you want to understand the economic events of the last half century, you should read. . . Robert Samuelson's The Great Inflation and Its Aftermath: --U.S News & World Report.From the Hardcover edition.

Publish Date
Publisher
Random House
Language
English
Pages
288

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Previews available in: English

Edition Availability
Cover of: The Great Inflation and Its Aftermath
The Great Inflation and Its Aftermath: The Transformation of America's Economy, Politics, and Society
November 11, 2008, Random House
Hardcover in English
Cover of: The Great Inflation and Its Aftermath
The Great Inflation and Its Aftermath
2008, Random House Publishing Group
Electronic resource in English
Cover of: The great inflation and its aftermath

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Book Details


Classifications

Library of Congress
HG540 .S26 2008

The Physical Object

Format
Hardcover
Number of pages
288

ID Numbers

Open Library
OL10751790M
Internet Archive
greatinflationit00samu
ISBN 10
0375505482
ISBN 13
9780375505485
LCCN
2008023468
OCLC/WorldCat
166358588
Library Thing
7476827
Goodreads
4184102

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