The performance of the US economy from the mid-1970s to the present was no match for its relatively robust performance during what economists call the Golden Age – 1949 to 1973. This was in fact the longest period of sustained growth in US history, when most (white) working people had achieved a degree of material security unknown earlier and unattainable since. But from the late 1960s and through the 1970s economic malaise was increasingly in evidence, signaling worse to come: high rates of both inflation and unemployment -stagflation- was not supposed to be possible in a Keynesian (1) world, but there they were, and seemingly intractable.The post A Short History of Elite Responses To Political-Economic Crisis appeared first on BSNEWS.
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