Stagflation, Milton Friedman

Stagflation, Milton Friedman

"We used to think that you could not have inflation and a recession at the same time. Stagflation changed that."
– Milton Friedman

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Before the 1970s, economists believed that inflation and unemployment were inversely related. However, stagflation in the 1970s challenged this belief, proving that both could occur together.

https://youtube.com/shorts/EQMK1EnyLIg?si=5P-K4xVbUn59Qwyx

https://tv.naver.com/v/71077284?playlistNo=949773

Quotes