Summary of The Great Inflation and Its Aftermath

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Recommendation

Recessionary times have led many people to re-evaluate their long-held beliefs about the financial system. His history-based economic analysis makes journalist Robert Samuelson’s fresh investigation of the insidious effects of inflation especially interesting. He covers the advent of inflation in the U.S. in the 1960s, and explains how it changed the nation’s economic thought and vision. Like a mutated gene, inflation assumed a life of its own and spawned the “new economy.” Samuelson presents a provocative, if debatable, argument about economics and prosperity. getAbstract recommends this detailed, advanced economics report and assures readers who stick with it that it will reward them with deeper understanding and fresh insights.

In this summary, you will learn

  • How the “Great Inflation” transpired
  • What impact inflation has had on politics and economics
  • How globalization and the “new economy” affect jobs, politics and prosperity in the U.S. and around the world
 

About the Author

Robert J. Samuelson is a Newsweek and Washington Post columnist. He wrote The Good Life and Its Discontents and Untruth, a collection of his columns.

 

Summary

The Inflationary Cycle
Almost 50 years have elapsed since the United States experienced the start of an inflation-dominated economic cycle. From 1960 to 1979, U.S. inflation grew from 1.4% to 13.3%. By 2001, it had fallen to 1.6%, almost its 1960 level. The “Great Inflation” from the mid...

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