| gen. |
take curative steps (Stagflation is sort of like the yeti of the economy: It's mythically rare,
and not all economists agree on how or when they appear. During a period
of stagflation, the economy sees the worst of both worlds. It's a time
characterized by high unemployment, slow economic growth, and a
declining GDP that occurs at the same time as inflation. Because things that
shouldn't be coinciding are indeed happening all at once, it's very hard for
the government to take curative steps. aldrignedigen) |
