In the 1970s, however, both problems arose simultaneously – rising inflation and rising unemployment, or ‘stagflation’. The traditional Keynesian policy solutions were incapable of dealing with this conjunction, thus seemingly dictating a turn to alternative theories. It is important to be clear that, at this point, multiple interpretations of the economic problem were possible. The production of inflation through wage rigidities and trade union power was not the only possible framing of the problem, and neoliberalism was not the only possible solution.