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Gnoma [55]
3 years ago
8

To help combat the ailing economy in the early '70s, President Nixon took the U.S. off the

History
1 answer:
lbvjy [14]3 years ago
7 0
GOLD STANDARD thereby changing US dollars into a fiat based currency (In God We Trust ;) Oh, then he printered boat loads of dollar bills thinking more $ will equate to more tax revenue (supply side system) BUT then the Phillips & Laffer curves were blown apart proving - Yes Mr. President, Inflation and High Unemployment CAN both exist at the same time.
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