Chapter

The Great Recession of the 1970s

Yanek Mieczkowski

in Gerald Ford and the Challenges of the 1970s

Published by University Press of Kentucky

Published in print April 2005 | ISBN: 9780813123493
Published online September 2011 | e-ISBN: 9780813134956 | DOI: http://dx.doi.org/10.5810/kentucky/9780813123493.003.0010
The Great Recession of the 1970s

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This chapter examines former U.S. President Gerald Ford's antirecession program in 1975. It discusses Ford advisers Alan Greenspan and William Simon's proposal to delay action as long as possible for fear of renewed inflation. It also explains the challenges presented by stagflation, given that the policy prescriptions for high inflation and high unemployment were contradictory. As the country slipped deeper into recession, comparisons between the 1920s and the 1930s and Ford's overall approval rating went down to 36 percent.

Keywords: Gerald Ford; anti-recession program; Alan Greenspan; Alan Simon; stagflation; recession; unemployment; approval rating

Chapter.  4999 words. 

Subjects: History of the Americas

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