During the Carter years workers still had a lot of union political power to increase wages along with inflation. That threat is gone forever due to offshoring, out sourcing and unbridled immigration. Workers have zero power in the USA. IT IS NOT THE 1970's ANYMORE.
Which has absolutely nothing to do with effects of interest rates and money supply growth.
But I can see why you’d prefer to change the subject.
This is why the economy grew in leaps and bounds in the Carter years -- right?
Dude -- the Carter years were a period of economic malaise, not massive growth. In fact, the term "stagflation" was coined to describe the unusual combination of economic conditions back then: anemic growth combined with very high inflation.
It says a lot about your perspective that you'd look back on those times as a standard to follow. Who cares about what most Americans are experiencing, as long as union workers have a lot of political power to buy off politicians and keep themselves paid well while everyone else is getting screwed?
Do you even belong on this website?