’70s-Era Inflation Advice Was Hollow and Still Is
Tips on coping with soaring prices were everywhere a generation ago. They were mostly useless, a grim omen for those seeking similar guidance today.
Not so helpful.
Photographer: Ali Goldstein/NBCU Photo Bank/NBCUniversal via Getty ImagesThe last time the U.S. endured inflation rates as high as they are today, homemakers, newspaper columnists and well-meaning government officials dispensed torrents of advice on how to cope with eye-popping price increases.
It’s worth re-reading those recommendations today, but not because they provide much useful contemporary guidance. For the majority of Americans, who are too young to recall the inflation-fighting tactics of the 1970s, the collective wisdom amassed during that era instead underscores the gravity of problem confronting everyone — and the limits of even the most ingenious coping strategies.