The oil crisis of 1973 accelerated the inflation created by Lyndon B. Johnson’s Great Society, which was a program to eliminate poverty and racial injustice. This inflation, similar to what is affecting the United States today, was due to an increase of the money in the economy, as well as high government spending. In 2022,.
The oil crisis of 1973 accelerated the inflation created by Lyndon B. Johnson’s Great Society, which was a program to eliminate poverty and racial injustice. This inflation, similar to what is affecting the United States today, was due to an increase of the money in the economy, as well as high government spending. In 2022,.