The Making of Modern Corporate FinanceWhy did the "stagflation" of the 1970s the improbable combination of high unemployment and runaway inflation prove so painful and protracted? What explains the U. S. stock market's remarkable forty year run of 12 percent average annual returns since then? Why is Japan still mired in a decades long recession and the Chinese economy in a tailspin? And what accounts for the resilience of U. S. stock and labor markets in the wake of the COVID 19 pandemic