this post was submitted on 13 May 2026
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Carter deregulate the trucking industry, the airlines, the railroads, and natural gas prices. This restored profit for corporations but led to mass layoffs for the unionized workers in these industries.
The inflation began back under LBJ. He, Nixon, and Ford all experimented with regulation and subsidies and propaganda to curb the wage/price feedback loop.
Carter was the first to try "degrowth" through a lending squeeze. And it worked... by decoupling wages from GDP.
Inflation was a function of the rebuild of Europe and the post war expansion of the USSR and the Global South.
Americans were no longer getting foreign imported raw materials at a pittance. Nor were they the only consumers of those foreign imports.
We still get them at a pittance and the global South, East pays dearly for it.
We still get them at a pittance and the global South, East pays dearly for it.