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t. e. In economics, stagflation (or recession-inflation) is a situation in which the inflation rate is high or increasing, the economic growth rate slows, and unemployment remains steadily high. Stagflation, once thought impossible, [1] poses a dilemma for economic policy, as measures to reduce inflation may exacerbate unemployment.
The International Emergency Economic Powers Act (IEEPA), Title II of Pub. L. Tooltip Public Law (United States) 95–223, 91 Stat. 1626, enacted October 28, 1977, is a United States federal law authorizing the president to regulate international commerce after declaring a national emergency in response to any unusual and extraordinary threat to the United States which has its source in whole ...
The War Powers Resolution (also known as the War Powers Resolution of 1973 or the War Powers Act) (50 U.S.C. ch. 33) is a federal law intended to check the U.S. president 's power to commit the United States to an armed conflict without the consent of the U.S. Congress. The resolution was adopted in the form of a United States congressional ...
President Richard Nixon. Nixonomics, a portmanteau of the words "Nixon" and "economics", refers either to the performance of the U.S. economy under U.S. President Richard Nixon [1] (i.e. the expansions in 1969 and from 1970 to 1973 during the broader Post–World War II economic expansion and the recessions from 1969 to 1970 and from 1973 to 1975) or the Nixon administration's economic policies.
v. t. e. Hegemonic stability theory (HST) is a theory of international relations, rooted in research from the fields of political science, economics, and history. HST indicates that the international system is more likely to remain stable when a single state is the dominant world power, or hegemon. [1] Thus, the end of hegemony diminishes the ...
Nixon speaking with Israeli Prime Minister Golda Meir and US Secretary of State Henry Kissinger on November 1, 1973. The Nixon Doctrine (sometimes referred to as the Guam Doctrine) was the foreign policy doctrine of Richard Nixon, the 37th president of the United States from 1969 to 1974. It was put forth during a press conference in Guam on ...
The 1973–1975 recession or 1970s recession was a period of economic stagnation in much of the Western world during the 1970s, putting an end to the overall post–World War II economic expansion. It differed from many previous recessions by involving stagflation, in which high unemployment and high inflation existed simultaneously.
The Nixon shock was the effect of a series of economic measures, including wage and price freezes, surcharges on imports, and the unilateral cancellation of the direct international convertibility of the United States dollar to gold, taken by United States President Richard Nixon on 15th August 1971 in response to increasing inflation. [ 1 ][ 2 ]