I wasn’t alive for the 1970s, but by all accounts, it was pretty bad. Inflation hit 21 per cent in Ireland, 13 per cent in the US, 25 per cent in the UK, 13 per cent in France. The 1970s seem to have been particularly tough because beforehand, in many ways, things had been so good for so long. In the US and Europe, living standards had risen dramatically for thirty straight years beforehand — Les Trente Glorieuses. At the same time, the counter-culture mixed things up. Life was good. Then, Inflation put an end to the rise in living standards. And…

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