stagnation and inflation, a term used in economics to describe a situation
where an inflation rate is high, the economic growth rate slows down, 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 British politician Iain Macleod, who coined
the phrase in his speech to Parliament in 1965.
However it too a few years to catch on, peaking around 1980 and currently in
long-term decline.
http://books.google.com/ngrams/graph?content=stagflation&year_start=1960&year_end=2008&corpus=15&smoothing=0&share=
No comments:
Post a Comment