(stagnation + inflation) when inflation is high, the economic growth rate slows, and unemployment remains steadily high
Neo-Keynesian success brought its own downfall in over-accumulation, over-production, and sundry other dislocations: OPEC price hikes in oil, stagflation, the beginnings of financialization, the transfer of production to low-wage areas, the end of social compromise and the appearance of the disastrous, neoliberal solution of market fundamentalism that would reach its peak in the 1980s and 90s.