Inflation – No Longer a Trivia Question

For years, I used to teach students about something called “inflation.” Typically, I did so when teaching about Jimmy Carter’s presidency (1977-1981), and described how he was hampered by the double whammy of inflation and unemployment.

Most of my students knew what unemployment was, but what in the world was “inflation”?

I had to explain what the Seventies were like. Now, I no longer do. With alarmingly high rises in crime and consumer prices, the Seventies are back. But without all the great music.

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