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31 August, 11:29

What effect did ford's economic policy have on the economy answer?

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  1. 31 August, 11:49
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    Ford came up with the policy, the Whip Inflation Now campaign in an effort to reduce inflation, where people are encouraged to spend less money in combination with public measures but the campaign failed miserably. Under Ford's policy, inflation went down due to spending cuts, but unemployment remained high.
  2. 31 August, 13:29
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    Inflation went down, but uemployment remained high Ford had to face stagflation, which is rapid inflation coupled with high unemployment and slow growth. Ford ended up embracing the idea that unemployment and sow growth was the main problem and thus advocated cutting taxes and increasing government spending, contrary to his initial views. Stimulating the economy is credited with the success he had with the economy.
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