Inflation and the cost of living
The History Hour27 Elo 2022

Inflation and the cost of living

A compilation of witness accounts from when inflation and the cost of living were seriously affecting people's lives, among other topics.

In 1971, inflation was a huge problem in the USA so the President, Richard Nixon, made one of the most drastic moves in economic history; abandoning the Gold Standard. It became known as the 'Nixon Shock' and nearly caused a trade war between America and its allies. But, it also saved the US economy from a crisis. Ben Henderson spoke to Bob Hormats, an economic adviser in the Nixon administration, who was at the heart of decision-making.

In 1997, Bulgaria was in financial meltdown with hyperinflation making money worth a lot less. The country had emerged out of communism following the fall of the Soviet Union in 1989. Like other post-Soviet regimes, the country found the transition from communism to capitalism harder than expected. The President of Bulgaria, Petar Stoyanov, knew he had to do something and a recovery plan from one of Ronald Reagan’s key economic advisers was on the table. But would it work? Matt Pintus has been speaking to Steve Hanke, an economics professor.

In January 1980, Indira Gandhi's Congress (I) party was voted into power in India. Before the election, inflation meant that the cost of onions was unaffordable for many Indians. The price of the vegetable became a political hot potato in the election campaign. Reena Stanton-Sharma spoke to Suda Pai, a former Professor of Political Science at Jawaharlal Nehru University, Delhi.

In 2012, Syrian government soldiers surrounded Darayya, a suburb of Damascus, bombing buildings and searching for people who had spoken out against President Assad. Hundreds of people died over four days in what was described by activists as a “massacre”. Mohamad Zarda has been speaking to Laura Jones.

It has been 40 years since the first Gay Games were held in San Francisco in 1982. Attracting a large crowd and featuring more than 1,000 athletes from more than 100 countries, the event was organised by a group of LGBT activists, including former Olympians, to raise awareness of homophobia in sport. The Gay Games are now held every four years at venues around the world. In 2019, Ashley Byrne spoke to organiser Sara Waddell Lewinstein and athlete Rick Tomin. A Made in Manchester production for BBC World Service.

(Photo: President Richard Nixon with his economic advisers in 1971. Credit: Bettmann via Getty Images)

Jaksot(469)

The birth of Bangladesh

The birth of Bangladesh

How Pakistan's first democratic elections in 1970 led to war, the break up of Pakistan and the creation of a new country, Bangladesh. Also Gibraltar under Spanish blockade plus refugees from Namibia’s war of independence, Britain’s first reality TV family and Bing Crosby’s White Christmas.Photo East Pakistan 1971 The flag of Bangladesh is raised at the Awami League headquarters. Credit Getty Images

19 Joulu 202054min

The first African to win the Nobel Peace Prize

The first African to win the Nobel Peace Prize

When Chief Albert Luthuli won the Nobel Peace Prize he was living under a banning order in rural South Africa. He won the prize for advocating peaceful opposition to the Apartheid regime. We hear from his daughter Albertina and speak to a South African historian about his legacy. Plus the cave discovery in France that changed the way we think about Neanderthals, the best-selling African-American crime writer Chester Himes, celebrating 100 years since a cinematic first and the reintroduction of beavers that's helping restore Scotland's ecosystem. (Picture: Albert Luthuli receives the Nobel Peace Prize in 1961. Credit: Keystone/Hulton Archive)

12 Joulu 202050min

The fall of Addis Ababa

The fall of Addis Ababa

In May 1991, the brutal Ethiopian dictator, Colonel Mengistu and his military regime were on the verge of collapse after years of civil war. The end came when a Tigrayan-led rebel movement advanced on the capital Addis Ababa and took power. We get a first-hand account from an American diplomat and hear how the events of 1991 contributed to the current crisis in Ethiopia. Plus, the controversy in France over banning headscarves and other religious symbols from schools, the Nazis' terrifying V1 bombing campaign in World War Two and the story of the Haitian slave leader, Toussaint Louverture. Photo: EPRDF rebels in Addis Ababa, 28 May, 1991 (BBC)

5 Joulu 202051min

Disability History special

Disability History special

We look back at the fight for disability rights in the UK and India in the 1990s, plus the remarkable life of Helen Keller as told by her great niece, how a Rwandan Paralympic volleyball team made history, and the invention of the iconic disability vehicle, the Invacar. And we speak to Colin Barnes, Emeritus Professor of Disability Studies at Leeds University, about the historic struggle for disabled rights and recognition. Photo: A disabled woman on her mobility scooter is carried away by four policemen after obstructing the traffic outside the Houses of Parliament. Credit: PA Archive/PA Images

28 Marras 202050min

The world's first woman premier

The world's first woman premier

Sirimavo Bandaranaike was elected prime minster of Sri Lanka, or Ceylon as it was known then, in 1960 following the assassination of her husband, Solomon Bandaranaike and became the first female prime minister in the world. We hear from Dr Asanga Welikala about her legacy. Plus the first Arab leader to visit Israel, the former hostage taken captive by Somali pirates in 2008 who came to sympathise with their plight and the Jewish refugees given sanctuary by America during WW2. Also the revolutionary and graphic book for women published in 1973 which helped us understand women's bodies and is now published in 33 different languages. Photo: Sirimavo Bandaranaike the Prime Minister of Ceylon (later Sri Lanka), 1960. Credit Keystone/Hulton Archive/Getty Images

21 Marras 202050min

The Guerrilla Girls

The Guerrilla Girls

In 1985 a group of anonymous female artists in New York began dressing up with gorilla masks on their heads and putting up fly-posters around the city's museums and galleries. We hear from two of the original Guerrilla Girls, who launched a campaign to demand greater representation for women and minorities in the art world. Also on the programme, the rarely heard voices of Africans who were forced to take sides in WW1; how Pluto lost its status as a planet, the invention of a revolutionary sign language, Makaton, in the 1970s, and changing 20th century theories of child rearing. PHOTO: Some of the Guerrilla Girls in 1990 (Getty Images)

14 Marras 202049min

The assassination of Yitzhak Rabin

The assassination of Yitzhak Rabin

In 1995, the Israeli prime minister, Yitzhak Rabin, was murdered at a peace rally in Tel Aviv. We hear how his death scuppered hopes of peace in the Middle East. Plus, the racism endured by children born to black American soldiers and German mothers after World War Two, the rebuilding of Dresden's most famous church, and nude theatre in London and New York.PHOTO: Yitzhak Rabin in 1993 (Getty Images)

7 Marras 202050min

US presidential history special

US presidential history special

Eyewitness accounts of moments in US presidential history: Inside JFK's election victory, remembering Shirley Chisholm - the first African American from a major party to make a presidential run, plus a senator's account of the Watergate hearings, the rise of the religious right and the story of President Bush's 9/11.Photo: US President John F. Kennedy giving his first State of the Union address to Congress in January 1961. (Credit: NASA/SSPL/Getty Images)

31 Loka 202051min

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