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)

Britain's secret propaganda war

Britain's secret propaganda war

Subversive warfare and 'fake news' in World War Two, the scandal which exposed horrific Indian police violence in the 1980s, two sides of the Iran hostages crisis in 1979, the woman who transformed cancer treatment, and a defining Berlin Wall rock concert.Photo The actress and singer Agnes Bernelle, who was recruited to be a presenter on a fake German radio station during the war)

9 Marras 201950min

'Jane' - the underground abortion service

'Jane' - the underground abortion service

The feminist network that performed illegal abortions in the 1960s in Chicago, the Algerian nationals who fought alongside the French in Algeria’s war of independence and when Margaret Thatcher first expressed anti- Europe sentiment. Plus the Paris hotel that hosted Holocaust survivors at the end of the Second World War and the battle to protect the Barrier Reef. Photo courtesy of Martha Scott

2 Marras 201948min

The fall of the Berlin Wall

The fall of the Berlin Wall

1989 was a seismic year in world history and ended with the fall of the Berlin Wall, the clearest symbol of the Cold War. But it was a series of events across Europe that added to the momentum. We journey back through Poland, Hungary and East Germany ahead of that historic moment in November, through the testimonies of the people who were there at the centre of events; the Solidarity movement in Poland, the protesters in Hungary and East Germany and an account from the first people to cross the wall.(Photo: East Germans climbing onto the top of the Berlin Wall at the Brandenburg Gate after the opening of the East German border was announced in Berlin. November 9, 1989. Credit: REUTERS/Staff/Files)

26 Loka 201949min

An environmental history special

An environmental history special

A pioneer of climate change science, UK's Windscale nuclear accident, Kenya's Green Belt heroine who won the Nobel Peace Prize, the man "who fed the world", and banning cars in Mexico City.(Photo: Thick black smoke blowing out of an industrial chimney. Credit: John Giles/PA)

19 Loka 201950min

Black British history

Black British history

To mark Black History Month in the UK we look back at some landmark moments in British Black History. We hear how the famous cricketer Learie Constantine broke the colour bar, and about the Notting Hill race riots and the Bristol bus boycott. Plus, we speak to Britain’s first black female MP Diane Abbott, and one of the thousands of mixed race children born of relationships between black GIs and British women during the Second World War. With Professor Hakim Adi.Photo: Sir Learie Constantine outside Westminster Abbey in 1966. Credit: Douglas Miller/Keystone/Getty Images.

12 Loka 201950min

The birth of the People's Republic of China

The birth of the People's Republic of China

To mark 70 years of communist China we hear from a soldier at the founding ceremony on October 1st 1949. Also, the memories of an American friend and comrade of Mao Zedong, a Red Guard who regrets the cultural revolution and the pro-communist protests in 1960s Hong Kong, plus the economic liberalisation of the 1980s. Our guide is China expert Isabel Hilton. Photo: An officer reads a newspaper to soldiers while they are waiting for the announcement of the foundation of the People's Republic of China on Tiananmen Square on October 1, 1949 in Beijing, China. (Credit: Visual China Group via Getty Images)

5 Loka 201949min

Fighting the Islamic State group online

Fighting the Islamic State group online

When the Islamic State group took over Mosul in Iraq in 2014 they flooded the internet with propaganda, claiming life under IS was fantastic. One historian living in the city decided to post a counter-narrative online, setting up a website called "Mosul Eye". Also in this edition, one black man's experience of growing up in Hitler's Germany; the gruesome death of the famous bullfighter Paquirri, switching on the Large Hadron Collider and the birth of the Sound of Music on Broadway in 1959.(Photo: Mosul Eye website. BBC)

28 Syys 201950min

The Cambridge spy network

The Cambridge spy network

The distinguished British art historian Anthony Blunt was exposed as a former Soviet spy in 1979. He was one of a group of double agents recruited at Cambridge University who passed vital information to Moscow. The BBC's Gordon Corera explains the scandal which shook the British establishment.Plus the Black Panther Party's free breakfast programme; the abolition of the Don't Ask Don't Tell policy towards LGBT troops in the US military; Ethiopian troops in South Korea; and memories of celebrated children's author CS Lewis.Photo: Sir Anthony Blunt at the press conference in which he explained his motivation in 1979 (Credit: Aubrey Hart/Getty Images)

21 Syys 201950min

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