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Stagflation In Pakistan
The Periods of Stagflation, also known as Stagflation in Pakistan or inflation and unemployment in Pakistan, are periods of economic stagflation in Pakistan's Economic history of Pakistan, economic history, which has affected Pakistan's economic trajectory since its inception. The first period of stagflation began in the 1970s after the secession of East Pakistan and the formation of Bangladesh following the Pakistani Instrument of Surrender, surrender during the Bangladesh Liberation War. Although the government of Zulfikar Ali Bhutto made an attempt to end this period, it was subsequently ended by the Zia regime, military government of Muhammad Zia-ul-Haq, Zia-ul-Haq in the 1980s. The end of Soviet–Afghan War, Soviet engagement in Communist Afghanistan, Afghanistan and increasing U.S. aid to Pakistan facilitated a second period of stagflation in the 1990s. During this period, both Benazir Bhutto and Nawaz Sharif attempted to tackle stagflation, with Nawaz Sharif first implemen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stagflation
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. It presents a dilemma for economic policy, since actions intended to lower inflation may exacerbate unemployment. The term, a portmanteau of '' stagnation'' and ''inflation'', is generally attributed to Iain Macleod, a British Conservative Party politician who became Chancellor of the Exchequer in 1970. Macleod used the word in a 1965 speech to Parliament during a period of simultaneously high inflation and unemployment in the United Kingdom.Introduction, page 9. Warning the House of Commons of the gravity of the situation, he said: Macleod used the term again on 7 July 1970, and the media began also to use it, for example in ''The Economist'' on 15 August 1970, and ''Newsweek'' on 19 March 1973. John Maynard Keynes did not use the term, but some of his work refers to the conditions that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
