In 1970, inflation was 5.5 percent. The stock market ground to a halt. From 1970 to 1979, the S&P 500 returned an average of 5.9 percent annually. But when you subtract for inflation (average 7.4 percent annually), the market lost value every year. President Jimmy Carter and the Fed tried numerous tactics to stabilize the economy, including wage and price guidelines and large government spending (and borrowing), both of which only seemed to exacerbate the problem. In the next section, we'll take a look at how the Fed finally got stagflation under control and how it can be prevented in the future. Friedman understood that the Federal Reserve wields incredible power to increase or decrease inflation in the U.S. In Friedman's worldview, inflation happens when the Fed allows too much money to circulate in the economy. The strategy for achieving this mission is called monetary policy. Modern monetary policy is heavily influenced by Friedman's theories. When the economy slows, the Fed lowers interest rates to encourage borrowing and increase the amount of money in circulation.

The Western colonial powers have drained the resources of Asian, African, and South American countries. Both the colonization and World War 2 devasted the Global South Economies. It took them some time to build the necessary infrastructure for economic prosperity. However, once they did, their economic progress outpaced that of the rich Western Economies. As mentioned before, demographics is playing an important role in the rise of Global South Economies. Over 65% of the population of Nigeria is under the age of 35. India’s median age is around 28. Both Indonesia and Vietnam’s median age is around 32-33 years. So, while the rich Western economies are aging fast, the Global South Economies have demographics on their side. The young population in the countries of the Global South increases urbanization. The increased momentum of urbanization, in turn, accelerates economic growth. According to the United Nations, by 2050, more than two-thirds of the urban population will live in the Asian and African continents.

Since alcohol is a depressant, it has a tranquilizing effect on the body that can make you unaware of how much you're drinking. One study found that men who combined energy drinks with alcohol felt alert and sober, even though they were actually drunk. And since both alcohol and energy drinks dehydrate you, when combined they can cause your body's fluids to drop to dangerous levels. In 1991, two people in Sweden who drank alcohol with an energy drink reportedly died of dehydration, although it was never conclusively proved that the energy drink led to their deaths. Other ingredients can also be problematic. For example, the stimulant ephedrine, an ingredient in many decongestants, can cause heart problems. In 2001, two California high school students fainted after ingesting energy drinks containing ephedrine. Because very little research has been done on the long-term health effects of consuming excess amounts of taurine and other ingredients in energy drinks, many health experts advise pregnant women and young children to avoid them.

Proper lighting can create an inviting atmosphere, adding warmth and elegance to the room. Whether you have dim lighting in the room or want to showcase a particular item, the lighting in your wall display cabinet can help create the right ambiance. First, measure the available wall space where you plan to place the cabinet. Wall display cabinets come in different sizes, so it's essential to choose one that fits the space without overcrowding the room. If you have a small room or limited wall space, consider opting for a smaller cabinet or one with a compact design. On the other hand, if you have a large wall and business plenty of space, you can go for a bigger unit. Choose a design that complements the existing decor of your room. If your space has a modern aesthetic, look for a wall display cabinet with sleek lines and minimalistic features. For more traditional interiors, you might prefer a cabinet made of wood with ornate details.