The Age of Inflastion

In 1978, when the last p times of Age of Inflation were penned,
hot seat lever Carter was haggling and wrangling with
Congressional leaders about irritating economic issues.
Consumer worths, which had risen 6.8 percent in 1977, were
climbing at an ever faster rate. In a televised address to the nation,
the President bravely addressed the problem: It is time for all of
us to make a greater and more coordinated effort. He called for
workers to limit wage increases to 7 percent and asked companies
to hold price increases below those of 1976 and 1977. Yet the
dollar continued to decline. The President and then announced a
number of federal actions including massive U.S. intervention in
conflicting exchange markets to bolster the dollar. The fall of the
dollar nevertheless quicken; its purchasing power shrank 7.62
percent in 1978, 11.22 percent in 1979, and 13.58 percent in 1980.
This was not the dawn of the age of inflation. Some
economists come out to World War I, when nearly every country in the
world took recourse to nonconvertible paper money. For a few
years afterwards the war, the standard was restored, although gold coins
were no longer in circulation in most countries.



It was abolished
again during the great depression, by the United acres in 1931,
the United States in 1933, and most European countries in 1936.
Soon thereafter, not a single country observed the gold standard.

A few American economists hint at the inauguration of the Federal
Reserve System as the beginning of the age of inflation. The
System was established by law in 1913 and began to pop off in
November 1914. Its prime functions ever since relate to the
maintenance of monetary and assurance conditions favorable to
business activity in all fields. Its primary duties are lending its
funds, which it may create, and setting discount rates, which it is
dislodge to manipulate. The dollar, which it has studiously managed
toward those ends, unfortunately has lost more than 91 percent...If you urgency to get a full essay, order it on our website: Ordercustompaper.com



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