The 1970's: Are We Going Back?
July 27, 2020
It was a period that many of our readers did not experience; however, that may be changing. The 1970's featured stagnant growth, combined with inflation, which was largely driven by high energy prices. Coined “stagflation” by economists, it featured economic and energy conditions that some believe may return post-pandemic. In the '70s, the price of crude oil garnered most of the headlines as consumers waited in long lines to fill up their tanks during shortages. Retail electricity prices also took off, increasing by 87% from 1970 to 1980.