- Sluggish economic growth coupled with a high rate of inflation and unemployment.
- 1965, apparently coined by U.K. Conservative party finance minister Iain Macleod, from stag(nation) + (in)flation.
- An economic phenomenon of the late 1960s and 1970s characterized by sluggish economic growth and high inflation.
Does this sound familiar? Letting past experiences provide insight for future events is a smart move. If we do not draw from history's lessons, we're doomed to repeat past failures.