Stagflation

"Read and pay attention" (Martin Wolf, the Financial Times): the bestselling author of Crisis Economics argues we are heading toward the worst economic catastrophe of our lifetimes, unless we can defend against ten terrifying threats.

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The advent of economic neoliberalism in the 1980s triggered a shift in the world economy. In the three decades following World War II, now considered a golden age of capitalism, economic growth was high and income inequality decreasing. But in the mid-1970s this social compact was broken as the world economy entered the stagflation crisis, following a decline in the profitability of capital.