Did high oil prices cause the stagflation

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Reference no: EM132266375

Question: 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?

• After you post your narrative, reply to at least two other student's comments. Explain why you agree, or better yet, find others that take a different position and explain why you disagree.

Videos: 1. Segment 207: Stagflation in the 1970s (By Philadelphia Fed)

2. Stagflation was not caused by Cost-Push factors - Milton Friedman (By StatelessLiberty)

Reference no: EM132266375

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