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Stagflation During The 1970s

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Stagflation occurred in the United States during the 1970s, and it had a huge impact across the nation. In the 1960s, industrial production declined because of a variety of factors. The main problem was the impact of the Vietnam War on the economy. The economy was experiencing a lack of growth, inflation was rising, and employment continued to decrease. Although the government attempted to take action in order to fix these issues, it ended up doing little to nothing for the country. By the 1970s, the state of the economy had only gotten worse. Companies had already been struggling during this time, but everything changed when oil and gasoline prices significantly increased. OPEC was a very important seller of oil during this time, but they
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