Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2014
The welfare state was created after 1950 with counterproductive mechanisms and this caused high inflation and high … unemployment and stagnating growth by 1970, called stagflation. Since 1970 governments redressed the welfare state but did not … succeed in finding workable mechanisms. They rather fought stagflation with the ideology of the day, shifting from vulgar …