Economic Policy and the Great Stagflation discusses the national economic policy and economics as a policy-oriented science.
This book summarizes what economists do and do not know about the inflation and recession that affected the U.S. economy during the years of the Great Stagflation in the mid-1970s.
The topics discussed include the basic concepts of stagflation, turbulent economic history of 1971-1976, anatomy of the great recession and inflation, and legacy of the Great Stagflation. The relation of wage-price controls, fiscal policy, and monetary policy to the Great Stagflation is also elaborated.
This publication is beneficial to economists and students researching on the history of the Great Stagflation and policy errors of the 1970s.

• Front Cover 2
• Economic Policy and the Great Stagflation 5
• Copyright Page 6
• Dedication 7
• Table of Contents 9
• preface 13
• Chapter 1. introduction 17
  • 1. Historical Perspective 17
  • 2. Preview of Things to Come 18
• Chapter 2. understanding stagflation: some basic concepts 21
  • 1. Aggregate Supply and Demand Analysis 22
  • 2. Explanations for Stagflation 27
  • 3. The Trade-off between Inflation and Unemployment 35
  • 4. An Eclectic Word on Monistic Monetarism 37
  • 5. Summary 39