Econ 210a: February 28: Question: The Inflation of the 1970s

Econ 210a: February 21: Question: The Inflation of the 1970s John Maynard Keynes said, near the end of his life, that the problem of controlling inflation while maintaining full employment was fundamentally a political and not an economic question. Did the 1970s in the developed world prove him right, or prove him wrong?