Stagflation
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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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See also
- Agflation
- Biflation
- Chronic inflation
- Deflation
- Economic stagnation
- Hyperinflation
- Inflationism
- Shrinkflation
- Stagflation in the United States
- Zero interest-rate policy
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