The Dig: Inflation Politics with Tim Barker
Jacobin Radio
00:00
The Globalization of US Corporations in the 1970s and 1980s
The Volker shock is kind of an experiment. Even Volker himself doesn't know how bad things have to get before he solves the problem. He was totally fine with it, but he might not have put his money on it. And so I think, you know, manufacturers were close enough to finance to go along with the experiment for a couple of years. But by 1982, things have gotten so bad, the recession is sort of so deep and scary and potentially unstable.
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