What are the effects of stagflation? Is stagflation good or bad? Why?

Question

I need it for my paper and my research materials seem to not have the answer. All they talk about is what happened to America during the 1970s.

Answer 1

Stagflation is an economic situation in which inflation and economic stagnation occur simultaneously and remain unchecked for a period of time.[1] The portmanteau "stagflation" is generally attributed to British politician Iain Macleod, who coined the term in a speech to Parliament in 1965.[2][3][4] The concept is notable partly because, in postwar macroeconomic theory, inflation and recession were regarded as mutually exclusive, and also because stagflation has generally proven to be difficult and costly to eradicate once it gets started.

For me it's bad.