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)

Fighting Uganda's anti-gay laws

Fighting Uganda's anti-gay laws

In 2009 Ugandan MPs tried to introduce new laws against homosexuality that would include life imprisonment and even the death penalty. We speak to Victor Mukasa about his story of fighting for LGBT rights in Uganda, first as a lesbian woman and then as a trans man. Also, the early days of the environmental organisation Greenpeace, walking the Great Wall of China and fighting acid attacks on women in Bangladesh.(Photo: Ugandan LGBT Activist Victor Mukasa May 2019. BBC)

25 Touko 201950min

The final days of Sri Lanka's civil war

The final days of Sri Lanka's civil war

In May 2009 the Sri Lankan army defeated the Tamil Tigers, ending a brutal 25-year civil war; also, the economists who predicted the 2008 global economic crash, plus the Nazis' stolen children, a victim of China's One Child policy, and the building of the great Karakoram Highway.Photo: Tamil civilians standing on the roadside after crossing to a government-controlled area 2kms from the front-line, 2009 (Getty Images)

18 Touko 201950min

The war on drugs

The war on drugs

US President Richard Nixon's efforts to deal with illegal drugs in 1971, the French defeat at Dien Bien Phu in Vietnam plus the rise of Jack Ma and his Alibaba empire in China. Also the Bauhaus movement and the global TV hit 'Strictly Come Dancing'.Photo: US President Richard Nixon (BBC)

13 Touko 201950min

The Malayan Emergency

The Malayan Emergency

Battling a communist insurgency in 1950s Malaya, the sinking of the Belgrano during the UK Argentine conflict, plus how Ellen DeGeneres came out to millions on US TV, also the African who made the Arctic his home because of his fear of snakes and the life of WW1 poet Rupert Brooke.Photo: A photograph taken by a British sergeant on patrol in the Malayan jungle.. (Copyright: Keystone/Getty Images)

4 Touko 201951min

The al Yamamah arms deals

The al Yamamah arms deals

The huge but controversial Anglo-Saudi deal, the Sri Lankan journalist who predicted his own murder, plus remembering South Africa's historic election 25 years ago, the day NATO bombed Serbian TV, and the origin of modern Veganism. Photo: Prime Minister Margaret Thatcher and King Fahd in London in 1987. Credit: Tim Graham/Getty Images.

27 Huhti 201950min

The Columbine school shooting

The Columbine school shooting

The memories of the brother of one of the victims of the Columbine mass school shooting; plus the story behind 'A Raisin in the Sun' - the first play on Broadway by a black woman; the world's first space tourist, the origins of organic farming and the auto-destructive art movement of the 1960s.Photo: Students from Columbine High School run under cover from police, following a shooting spree by two masked teenagers. April 20th 1999 (Mark Leffingwell/AFP/Getty Images

18 Huhti 201950min

The rise of Hindu nationalism

The rise of Hindu nationalism

How an Indian religious rally in 1990 sparked the rise of Hindu nationalism, 100 years since the Amritsar Massacre plus the first wing-suit for base jumping, a US food scare in the 1960s and teaching Marilyn Monroe to dance.(Photo LK Advani during rath yatra 15/10/1990 Credit: Getty Image)

13 Huhti 201950min

Abolishing the army

Abolishing the army

After a brief civil war in March-April 1948, the new president of Costa Rica, Jose Figueres, took the audacious step of dissolving the Armed Forces. The Central American country is now one of just over 20 countries without a standing army - we find out more. Plus, Maya Angelou's ground-breaking memoir, I Know Why The Caged Bird Sings, and the remarkable story of the raising of the Swedish warship, the Vasa.Photo: Costa Rican soldiers in San Jose after the end of the civil war, April 1948 (Credit: Getty Images)

6 Huhti 201950min

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