stagflation

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English

WOTD – 17 November 2024

Etymology

Blend of stagnation +‎ inflation,[1] generally thought to have been coined by the British politician Iain Macleod (1913–1970) in a 17 November 1965 parliamentary speech: see the quotation.

Pronunciation

Noun

stagflation (countable and uncountable, plural stagflations)

  1. (economics) Prolonged high inflation accompanied by stagnant growth, often with recession and high unemployment. [from 1965]
    Coordinate terms: (humorous) Bidenflation, biflation, deflation, hyperinflation, mixflation, slumpflation
    • 1965 November 17, Iain Macleod, “Economic Affairs”, in Parliamentary Debates (Hansard): House of Commons Official Report (House of Commons of the United Kingdom)‎[1], volume 720, London: Her Majesty’s Stationery Office, →ISSN, →OCLC, archived from the original on 2024-04-27, column 1165:
      We now have the worst of both worlds—not just inflation on the one side or stagnation on the other, but both of them together. We have a sort of "stagflation" situation and history in modern terms is indeed being made. There is another point behind the figures. As I say, production has fallen by 1 per cent. or ½ per cent.
    • 1982, Mancur Olson, “The Questions, and the Standards a Satisfactory Answer Must Meet”, in The Rise and Decline of Nations: Economic Growth, Stagflation, and Social Rigidities, New Haven, Conn.] London: Yale University Press, →ISBN, page 8:
      As soon as we understand how involuntary unemployment can result from rational and well-informed individual behavior, it also becomes obvious how inflation and unemployment—which we once thought could not occur simultaneously—can be combined, as they have been in the recent stagflation.
    • 1995, Anthony S. Campagna, “Conclusions and Legacy”, in Economic Policy in the Carter Administration (Contributions in Economics and Economic History; no. 171), Westport, Conn.; London: Greenwood Press, →ISBN, →ISSN, page 204:
      Since no one had the solutions to stagflation, [Jimmy] Carter, a fiscal conservative from the beginning, was thrown back to his personal bias and chose to elevate inflation to the nation's most pressing problem. […] More radical solutions to stagflation, such as direct wage and price controls or voluntary wage freezes to halt the wage/price spiral, were not thought to be socially acceptable. So, in the end the administration acquiesced to monetary stringency and watched its tenure recede.
    • 2013, George R. Tyler, “Facing Reality”, in What Went Wrong: How the 1% Hijacked the American Middle Class … and What Other Countries Got Right, Dallas, Tex.: BenBella Books, →ISBN, section 1 (The Beginning), page 4:
      Moving into the mid-1970s, America's economic performance suffered. Stagflation—inflation combined with minimal economic growth—eroded wages and profits, weakening business and consumer confidence.
    • 2023 June 17, Chris Giles, Delphine Strauss, “Britain’s economic malaise”, in Roula Khalaf, editor, FT Weekend‎[2], London: Financial Times, →ISSN, →OCLC, archived from the original on 2023-06-21, page 6:
      The UK economy is suffering a nasty bout of stagflation and the prospects appear poor. That is the conclusion financial markets drew this week from yet more disappointing data, highlighting the weakness of the post-Covid economy and the persistence of high inflation.

Derived terms

Descendants

  • → Russian: стагфляция (stagfljacija)

Translations

See also

References

  1. ^ “stagflation, n.”, in OED Online Paid subscription required⁠, Oxford, Oxfordshire: Oxford University Press, July 2023; “stagflation, n.”, in Lexico, Dictionary.com; Oxford University Press, 2019–2022.

Further reading

French

Etymology

From the verb stagner and the noun inflation.

Pronunciation

Noun

stagflation f (plural stagflations)

  1. stagflation

Further reading

Swedish

Swedish Wikipedia has an article on:
Wikipedia sv

Etymology

Blend of stagnation +‎ inflation, probably influenced by English stagflation.

Pronunciation

  • IPA(key): /staɡflaˈɧuːn/
  • Hyphenation: stag‧fla‧tion
  • Rhymes: -uːn

Noun

stagflation c (countable and uncountable)

  1. (economics) stagflation

Declension

Declension of stagflation 
Singular Plural
Indefinite Definite Indefinite Definite
Nominative stagflation stagflationen stagflationer stagflationerna
Genitive stagflations stagflationens stagflationers stagflationernas

Derived terms

See also

References

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