Inflation Surge Explained examines the crippling inflation of the 1970s in the United States, attributing it to a confluence of expansionary monetary policies and disruptive oil price shocks.
The book analyzes how these factors amplified each other, moving beyond simplistic explanations and challenging assumptions that single events were solely responsible for the crisis.
It is structured to introduce inflation concepts, then progresses to examine monetary policies, and finally synthesizes these factors with policy responses.
The book's approach integrates both monetary and supply-side explanations, providing a balanced and accessible analysis suitable for a broad audience.
By tracing the evolution of monetary policy post-World War II, the book highlights key shifts in the late 1960s and early 1970s.
For example, the analysis demonstrates how policymakers struggled to balance economic growth with price stability, leading to decisions that inadvertently fueled inflation.
The economic history is supported by data from sources like the Bureau of Labor Statistics and the Federal Reserve Economic Data, strengthening its arguments.
Ultimately, the book offers valuable lessons for today's economic challenges, emphasizing the importance of understanding the interplay between monetary policy, supply-side shocks, and inflation expectations to inform current policy debates.
