The expression stagflation can be associated with Iain Macleod, an united kingdom Conventional Cluster politician whom turned into chancellor of your exchequer inside 1970. The guy used the word from inside the a speech in order to Parliament inside the 1965 during a period of in addition highest rising prices and you may jobless about Uk.

«We now have this new terrible out-of one another planets — just rising prices into the you to front side or stagnation for the most other, but both together with her. (далее…)