They, together with the gold standard, gave investment in the US a good return for both US and foreign investors while a shortage of labor encouraged high wages and improvements in productivity.
Inflation was caused by Nixon's abandonment of the gold exchange mechanism in order to boost government borrowing and spending.
“Tariffs and restricted immigration are also government actions.”
Tariffs are merely a way to bring in revenue, like income, sales, property, inheritance, and corporate taxes. The government has an infinite need for revenue because the demands for government to take action have no end.
Controlling immigration is a legitimate function of government.
“Inflation was caused by Nixon’s abandonment of the gold exchange mechanism in order to boost government borrowing and spending.” In other words, inflation was caused by calls for government to take action.