Many Americans dread a return to the economic malaise of stagflation.

STAGFLATION, a term orig­i­nal­ly used in the 1970s in the Unit­ed States of Amer­i­ca, which de­scribes stag­nant eco­nom­ic growth com­bined with a high rate of in­fla­tion. Each time eco­nom­ic con­di­tions threat­en a re­turn to stagfla­tion, com­men­ta­tors of­ten sum­mon im­ages of dis­co balls and plat­form shoes, thus trig­ger­ing a brief re­birth of ’70s fash­ion nos­tal­gia.