The Stagflation in the 70’s is an interesting occurrence. So much for the Keynesian hypothesis that aggregate demand determines the change in the economy over a short term. Even with employment, goods, and services on the decline the economy managed to inflate. This economy thing is very strange, and doesn’t seem to have a good model to fit. Maybe the problems are caused from some kind of fundamental flaw; like how we have only tried to regulate and deregulate, maybe, it needs to evolve. Maybe we shouldn’t hold ideas of the past to such a high esteem, I am assuming that an economics degree entails studying many different economic hypothesis, especially Keynesian and Monetarism, and none of them are on the money. If we all knew more about it maybe we could influence that. America needs to get smarter! New ideas need to be generated!