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MENTAL MODEL · M6227

Stagflation

Stagflation
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Version 1.0.0 · Updated 2026-07-28

CORE DEFINITION

Stagflation, short for stagnation inflation, is an economic phenomenon, particularly in macroeconomics, characterized by simultaneous economic stagnation (stagnation) and persistently increasing unemployment and inflation (inflation, referring to sustained price increases). The term 'stagflation' as a portmanteau originated from a speech by British politician Iain Macleod in Parliament in 1965. This concept is notable partly because post-war macroeconomic theory held that inflation and economic recession could not coexist, and also because it is widely believed that stagflation, like fiscal deficits, is difficult to cure once it begins. In the political arena, stagflation is measured by the Misery Index (simply the sum of unemployment rate and inflation rate), which influenced the U.S. presidential elections of 1976 and 1980.

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Stagflation, short for stagnation inflation, is an economic phenomenon, particularly in macroeconomics, characterized by simultaneous economic stagnation (stagnation) and persistently increasing unemployment and inflation (inflation, referring to sustained price increases). The term 'stagflation' as a portmanteau originated from a speech by British politician Iain Macleod in Parliament in 1965.

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The phenomenon where the economy simultaneously experiences stagnation (high unemployment, low growth) and inflation, which is difficult to explain with the traditional Phillips curve and gained widespread attention after the 1970s oil crisis.

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Source support: Explicit

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    zh.wikipedia.orghttps://zh.wikipedia.org/wiki/%E5%81%9C%E6%BB%AF%E6%80%A7%E9%80%9A%E8%B2%A8%E8%86%A8%E8%84%B9ZH · Explicit
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