The stagflation in the 1970s

[buritobr]

The annual average GDP growth of the USA in the following decades:
1950s: 3.59%
1960s: 4.27%
1970s: 3.16%
1980s: 3.33%
1990s: 3.44%
2000s: 1.75%
2010s: 2.10%

The 1970s' stagflation was much more flation than stag
GDP growth in the 1970s was lower than it was in the golden years of the 1950s and 1960s, but only slightly lower than it was in the "boom" years of the 1980s and 1990s, and much higher than it was in the 2000s and 2010s.

[buritobr]

Yes, I think the realization that the economy in the 1970s was not as badly impacted by inflation as was believed at the time and for some time after has helped lead to the return of the Keynesians as Post-Keynesians. 

Looking back, comparing to the 2000s and 2010s, it is possible to observe that the growth in the 1970s was not so bad. But people living in the 1970s, when they were comparing to the golden decades of 1950s and 1960s, they though that they were living at bad times.