Page "Iain Macleod" Paragraph 12

The coinage of the word stagflation is attributed to him.

Speaking in the House of Commons on November 17, 1965, he said: " We now have the worst of both worlds — not just inflation on the one side or stagnation on the other, but both of them together.

We have a sort of ' stagflation ' situation.

And history, in modern terms, is indeed being made.