Inflation and the cost of living
The History Hour27 Aug 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)

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The First Russian Revolution of 1917

The First Russian Revolution of 1917

100 years since the Russian Revolution, Imperial Russia in colour, AIDS and the mystery of 'Patient Zero', when Indian sex workers marched for employment rights and the British Lord who fled the Nazis in Czechoslovakia as a six year old on the Kindertransport.Photo: 12th March 1917: Barricades across a street in St Petersburg, as a red flag floats above the cannons, during the Russian Revolution. (Photo by Hulton Archive/Getty Images)

18 Mars 201751min

Kuwaiti Women Secure the Vote

Kuwaiti Women Secure the Vote

Women in Kuwait win the right to vote, and the only women on the front line on the Western Front in World War One; battling smog in Mexico City in the 1980s, the artist Georgia O'Keeffe, and America's first incident of Islamic terror forty years ago.Photo: the first women candidates for parliamentary elections in Kuwait in 2006, Aisha al-Rashid (R) and Rola Dashti (C) (Credit: Yasser al-Zayya/AFP/Getty Images)

10 Mars 201750min

Mother Teresa - The Nun Who Became A Saint

Mother Teresa - The Nun Who Became A Saint

Life with Mother Teresa among the poorest of the poor in Calcutta, how the World Health Organisation came to realise that obesity was a global problem and Eleanor Roosevelt in the White House. Plus the immortal cells of Henrietta Lacks - a remarkable story of one woman's impact on medical research.(PHOTO: AP Mother Teresa holds a child in 1978)

4 Mars 201750min

The German American Bund

The German American Bund

In the 1930s, a group of German-American Nazi sympathisers known as the German American Bund held rallies and summer camps across the US. Also, the lawyers who helped Serbian leader Slobodan Milosevic defend himself against war crimes charges and how vandals attacked Denmark's famous Little Mermaid Statue.

25 Feb 201750min

Love and Marriage

Love and Marriage

From speed-dating to gay romance, from divorce to bigamy we look at recent changes in the way society perceives love and marriage. Plus - an expert view on how to make sure your love endures.Photo: A heart hanging over Carnaby Street in London. Credit: BBC.

18 Feb 201750min

Sanctuary Cities in the USA

Sanctuary Cities in the USA

This week how American cities like San Francisco became safe havens for undocumented immigrants, the story of Tilikum and first recorded killing of a human by an orca whale, discovering DNA, the ship wreck that gave locals whiskey galore and Kenya's smash hit song - that got everyone singing in Swahili.(Photo: Supporters of Sanctuary Cities demonstrating in San Francisco, January 2017. Credit: AP)

11 Feb 201750min

The End of Apartheid

The End of Apartheid

Former South African police minister on ending apartheid, eyewitness to Black Hawk Down, landmark sexual harassment case in India, the last South American war and a record breaking solo trek across the Antarctic Picture: Anti-apartheid protestors demonstrate in Cape Town on the same day that President de Klerk announced the lifting of the ban on the ANC and the release of all political prisoners, including Nelson Mandela (Credit: RASHID LOMBARD/AFP/Getty Images)

4 Feb 201750min

The Aboriginal Tent Embassy

The Aboriginal Tent Embassy

On 26 January 1972 four Aboriginal men began a protest outside Parliament House in Canberra, Australia. They erected a beach umbrella on the grass and called it an 'embassy'.Plus, the murder of five lawyers in Madrid in 1977, which became a turning point in Spain's return to democracy; the invention of the microwave oven; Roald Dahl's Charlie and the Chocolate Factory; and 75 years of the BBC's longest-running programme, Desert Island Discs.

28 Jan 201750min

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