This paper explores the economic context of a change in culture from one of intervention to a culture that favored less government activity in the economy. The Great Stagflation (1965-1985) forced a reevaluation of economic policy that found interventionist policy wanting and proposed, in its place, a policy more consistent with free-market approaches. The paper then explores the consequences of the change in culture as demonstrated by the economic policies of the Nixon through Bush(2) administration approaches to economic issues.
Jeannette C. Mitchell and Johanna E. Mitchell. "Economic Crises and Altering Economic Culture: the Case of the Great Stagflation." Proceedings of the New York State Economics Association. vol. 1, October 2008, p. 84-95
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