You can thank the youth not voting, suburban women voting with their racist husbands and the obsession with social media for the last two Republicans who melted the economy down. Ditch Facebook and cable and get your friends to vote. Make sure you make one person vote who didn’t want to. There ARE more of us.
The stagflation of the era was calamitous. Prior to that point, economic policy-makers understood there to be a short-term trade-off between inflation and employment; specifically, if they allowed inflation to rise for now, then the unemployment rate would fall in the short term. In the long term, high inflation was bad, but who could be bothered to care about anything but the short term?
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