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stagflation

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Journal Article
History of Political Economy (2019) 51 (3): 535–556.
Published: 01 June 2019
... Deflation ”. American Economic Review 74 ( 2 ): 211 – 15 . Blinder Alan S. 1979 . Economic Policy and the Great Stagflation . London : Academic Press . Blinder Alan S. 1983 . “ A Skeptical Note on the New Econometrics .” Working Paper No. 1092 , National Bureau of Economic...
Journal Article
History of Political Economy (1985) 17 (3): 403–418.
Published: 01 September 1985
... at the very stage of impe- rialism of other advanced countries. As to postwar capitalism, Uno suggested an approach which viewed modem capitalism as a ‘democratically organized capitalism’ tinged with the influence of socialist societies and trade union power. By his followers, stagflation...
Journal Article
History of Political Economy (1980) 12 (3): 453–457.
Published: 01 September 1980
... to sociologists to rescue economics from irrelevance. Viewed in this light, the General Theory was indeed a war of independence and we now await some commonsense theorizing, based upon a total understanding of the evolu- tion of economic theory, to solve the present problems of stagflation, which...
Journal Article
History of Political Economy (1997) 29 (4): 635–638.
Published: 01 November 1997
... prediction, which connects almost exactly with Milton Friedman’s fa- mous 1967 American Economic Association presidential prediction of stagflation. In a letter to the editor on 27 February 1957, Slichter sug- gested a ten-year comparative prediction between his views and the views of “The Journal...
Journal Article
History of Political Economy (1999) 31 (3): 601.
Published: 01 September 1999
..., England: Edward Elgar, 1997. xxiv; 638 pp. $235.00. Since the 1970s, John Maynard Keynes and Keynesian economics have had a shad- owy existence among academic economists. After the long bout of stagflation and the rise of monetarism and rational expectations, Keynesianism was pronounced dead...
Journal Article
History of Political Economy (2022) 54 (4): 619–653.
Published: 01 August 2022
... of government in the economy and thus worsen the current stagflation that they saw as the consequence of government intervention. In 1976, in a somewhat Hayekian style, Alan Greenspan, then chair of Nixon's CEA, warned the Committee on Banking, Housing, and Urban Affairs against the limits of economics...
Journal Article
History of Political Economy (2001) 33 (1): 177–179.
Published: 01 March 2001
... minister who insisted—until the last moment in 1967—that devaluation of the pound was not a dis- cussible subject. The profession’s credibility in Britain—as was also the case in the United States—suffered even heavier damage in the “stagflation” days of the 1970s. Even so,a new low was established...
Journal Article
History of Political Economy (2004) 36 (Suppl_1): 323–325.
Published: 01 December 2004
... in the transmission mecha- nism of monetary policy; the relationship between the exchange rate and inflation; the measurement of the output gap and the natural interest rate; and the role of poli- cymakers in the stagflation of the 1970s. Contributors 325...
Journal Article
History of Political Economy (1980) 12 (4): 610–619.
Published: 01 November 1980
... to the decades of the 1860s or 1930s. The self-confidence of the 1960s has been replaced by embarrassment over an inability to provide answers to such problems as stagflation and productivity de- cline. Moreover, economists have failed to predict or solve the energy problem, and seem to be of less...
Journal Article
History of Political Economy (2003) 35 (4): 779–781.
Published: 01 November 2003
... not logically lead to a laissez-faire stance but to the view of economics as moral philosophy (292). One of the reasons for the decline of Keynesian economics in the 1970s and 1980s was the stagflation episode and its effects on the interpreta- tion of the Phillips curve as a stable trade-off relation...
Journal Article
History of Political Economy (1995) 27 (Supplement): 183–216.
Published: 01 December 1995
... edition, the idea is left undeveloped until the ninth edition. Up to that point, the Phillips curve is treated principally as a description of the inflationary dilemma that faces the policy maker, who chooses among the feasi- ble combinations of inflation and unemployment. Stagflation renewed...
Journal Article
History of Political Economy (2003) 35 (4): 781–783.
Published: 01 November 2003
... of economics as moral philosophy (292). One of the reasons for the decline of Keynesian economics in the 1970s and 1980s was the stagflation episode and its effects on the interpreta- tion of the Phillips curve as a stable trade-off relation. Harcourt points out in chapter 782 Book Reviews 13...
Journal Article
History of Political Economy (1980) 12 (3): 457–459.
Published: 01 September 1980
...Piero Barucci Achille Agnati. Padua: Cedam, 1978. Pp. xi + 320. Lit. 10,000. Copyright © 1980 by Duke University Press 1980 Book reviews 457 economic growth and encourage responsible union activity as solutions to stagflation. He...
Journal Article
History of Political Economy (1985) 17 (4): 671–674.
Published: 01 November 1985
... Keynesian economics in disarray” (p. 179). Most of the other conferees found the monetarist development distressing in vary- ing degrees and for varying reasons. Solow, Tobin, and others rejected the view that the stagflation of the 1970s reflected any shortcoming of Keynesian econoln- ics...
Journal Article
History of Political Economy (1991) 23 (2): 263–278.
Published: 01 June 1991
... Thought . Chicago: University of Chicago Press. Ellis , Adrian , and Krishan Kumar eds. 1983 . Dilemmas of Liberal Democracies: Studies in Fred Hirsch's “Social Limits to Growth.” New York: Tavistock. Hakes , David R. 1988 . Evidence of a Scitovsky Stagflation Thesis. Review of Radical...
Journal Article
History of Political Economy (1981) 13 (2): 279–284.
Published: 01 June 1981
... is the good whose supply and demand are allowed or made to become disequilibrated. An explanation of why individual economic actors be- have in a way that adds up. from the macroeconomic point of view, to price and wage stickiness (or, in stagflation, to stickiness of entrenched uptrends) will turn...
Journal Article
History of Political Economy (1991) 23 (3): 544–548.
Published: 01 September 1991
... meant that Meade has maintained an enduring nervousness about labor militancy. His inclination in the 1970s and 1980s was to attribute Britain’s economic malaise-the stagflation crisis-to the obduracy of the trade unions in refusing to accept “reasonable” wage increases (see CP, 1:321-42, 363...
Journal Article
History of Political Economy (1984) 16 (2): 263–290.
Published: 01 June 1984
... , Alex Cukierman, and Allan Meltzer 1980 . ‘Stagflation, persistent unemployment and the permanence of economic shocks.’ Journal of Monetary Economics 6 ( Oct. ): 467 -92. Cyert , Richard , and Morris De Groot 1974 . ‘Rational expectations and Bayesian analysis.’ Journal of Political...
Journal Article
History of Political Economy (1990) 22 (2): 261–279.
Published: 01 June 1990
... to explore periods of “transitory equilibrium,” combined with his concern with unemployment and inflation, led him to an early and articulate description of “stagflation.” He observed that at the end of an inflationary boom, when “Compensating reactions” are taking place, the rate of inflation...
Journal Article
History of Political Economy (2014) 46 (suppl_1): 252–271.
Published: 01 December 2014
... states. However, the momentum was lost: not only were problems now understood, but it was clear, at least to most economists, that the theory had little light to shed on the problems of stagflation that erupted after 1973–74. Indeed, the most dramatic pro- ductivity shock for a generation provided...