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Review of Radical Political Economics
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The Rise and Fall of Stagflation: Preliminary Results

James Devine

Economics Department, Loyola Marymount University, Los Angeles CA 99046-8410 jdevine{at}lmumail.lmu.edu

This paper explains the rise and fall of stagflation between 1960 and 1998 in terms of the fall and rise of the cyclically-corrected profit rate as part of a preliminary investigation. Not only is the theory presented and compared to mainstream visions of the Natural Rate of Unemployment, but empirical evidence for my thesis is marshaled.

Key Words: Stagflation • United States • Profit rate

Review of Radical Political Economics, Vol. 32, No. 3, 398-407 (2000)
DOI: 10.1177/048661340003200305
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