Stagflation  

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-'''The 1973–75 recession''' or '''1970s recession''' was a period of economic stagnation in much of the [[Western world]] during the 1970s, putting an end to the overall [[Post–World War II economic expansion]]. It differed from many previous recessions by being a [[stagflation]], where high [[unemployment]] and high [[inflation]] existed simultaneously.+ 
 +In [[economics]], '''stagflation''', a [[portmanteau]] of ''[[Economic stagnation|stagnation]]'' and ''[[inflation]]'', is a situation in which the [[inflation rate]] is high, the [[economic growth]] rate slows, and [[unemployment]] remains steadily high. It raises a dilemma for [[economic policy]], since actions designed to lower inflation may exacerbate unemployment, and vice versa. The term is generally attributed to a British [[Conservative Party (UK)|Conservative Party]] politician who became chancellor of the exchequer in 1970, [[Iain Macleod]], who coined the phrase in his speech to [[Parliament of the United Kingdom|Parliament]] in 1965.
==See also== ==See also==
-* [[1970s energy crisis]]+*[[Agflation]]
-* [[List of recessions in the United States]]+*[[Biflation]]
-* [[List of recessions in the United Kingdom]]+*[[Chronic inflation]]
-* [[Steel crisis]]+*[[Deflation]]
 +*[[Economic stagnation]]
 +*[[Hyperinflation]]
 +*[[Inflationism]]
 +*[[Shrinkflation]]
 +*[[History of the United States (1964–1980)#"Stagflation"|Stagflation in the United States]]
 +*[[Zero interest-rate policy]]
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In economics, stagflation, a portmanteau of stagnation and inflation, is a situation in which the inflation rate is high, the economic growth rate slows, and unemployment remains steadily high. It raises a dilemma for economic policy, since actions designed to lower inflation may exacerbate unemployment, and vice versa. The term is generally attributed to a British Conservative Party politician who became chancellor of the exchequer in 1970, Iain Macleod, who coined the phrase in his speech to Parliament in 1965.

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