Answer: Great society was launched by President Lyndon B. Johnson in 1964 to 1965. Great Society was a set of domestic policy initiatives designed to eliminate poverty and racial injustice in the United States, reduce crime and improve the environment. President Johnson in his speech explained that to advance the quality of our American Society, “we have the opportunity to move not only toward the rich society and the powerful society, but upward to the Great Society. It is a place where men are more concerned with the quality of their governments than the quality of their goods. The Great Society rests on abundance and liberty for all. It demands an end to poverty and racial injustice.”
The great society was aimed to provide aid to education, attack on disease, medicare, urban renewal, beautification, conservation, development of depressed regions, a wide-scale fight against poverty, control and prevention of crime and delinquency, and the removal of obstacles to vote.
Inflation is the rise in the price of goods and services supplied in an economy.
As a monetary policy action, the federal reserve will increase the federal funds rate in order to reduce the flow of money supply to the economy. In other words, by making it more expensive for entities to borrow money, this will consequently reduce the amount of money that is circulating in the streets. By rule of supply of demand, as there is less money to buy products and services, the prices of goods and services will start to drop.
C. Philosophes
Thats some we call an 18th century thinker who believed in wisdom.