The global economy is in the midst of a sudden slowdown accompanied by a steep run-up in global inflation to multidecade highs. These developments raise concerns about stagflation—the coincidence of weak growth and elevated inflation—similar to what the world suffered in the 1970s. That experience should be warning of the damage this could wreak on … Continue reading Today’s global economy is eerily similar to the 1970s, but governments can still escape a stagflation episode