Stagflation

Watch the above videos. Once you have done this click on the above link “Stagflation DB” and create a thread with at least one page answering and explaining the following:

• What factors contributed to the stagflation of the 1970s?
• How did Volker deal with the high inflation?
• Did high oil prices cause the stagflation or was it something else?
• Is the Fed independent? If so, how do our leaders ensure they maintain the best interests of the public?
• How does Milton Friedman establish his view that inflation is a monetary issue?
• According to Friedman, do trade unions cause inflation by pushing up wages and the cost of production?