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The History Hour
Inflation and the cost of living
The History Hour
Aug 27, 2022

A compilation of witness accounts from when inflation and the cost of living were seriously affecting people's lives, among other topics.

In 1971, inflation was a huge problem in the USA so the President, Richard Nixon, made one of the most drastic moves in economic history; abandoning the Gold Standard. It became known as the 'Nixon Shock' and nearly caused a trade war between America and its allies. But, it also saved the US economy from a crisis. Ben Henderson spoke to Bob Hormats, an economic adviser in the Nixon administration, who was at the heart of decision-making.

In 1997, Bulgaria was in financial meltdown with hyperinflation making money worth a lot less. The country had emerged out of communism following the fall of the Soviet Union in 1989. Like other post-Soviet regimes, the country found the transition from communism to capitalism harder than expected. The President of Bulgaria, Petar Stoyanov, knew he had to do something and a recovery plan from one of Ronald Reagan’s key economic advisers was on the table. But would it work? Matt Pintus has been speaking to Steve Hanke, an economics professor.

In January 1980, Indira Gandhi's Congress (I) party was voted into power in India. Before the election, inflation meant that the cost of onions was unaffordable for many Indians. The price of the vegetable became a political hot potato in the election campaign. Reena Stanton-Sharma spoke to Suda Pai, a former Professor of Political Science at Jawaharlal Nehru University, Delhi.

In 2012, Syrian government soldiers surrounded Darayya, a suburb of Damascus, bombing buildings and searching for people who had spoken out against President Assad. Hundreds of people died over four days in what was described by activists as a “massacre”. Mohamad Zarda has been speaking to Laura Jones.

It has been 40 years since the first Gay Games were held in San Francisco in 1982. Attracting a large crowd and featuring more than 1,000 athletes from more than 100 countries, the event was organised by a group of LGBT activists, including former Olympians, to raise awareness of homophobia in sport. The Gay Games are now held every four years at venues around the world. In 2019, Ashley Byrne spoke to organiser Sara Waddell Lewinstein and athlete Rick Tomin. A Made in Manchester production for BBC World Service.

(Photo: President Richard Nixon with his economic advisers in 1971. Credit: Bettmann via Getty Images)

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Jun 21, 2025
Jaws and the Charleston church shooting

Max Pearson presents a collection of the week's Witness History interviews from the BBC World Service.

This programme includes outdated and offensive language.

It’s 50 years since the original Jaws film was released in cinemas across America. The movie premiered on 20 June 1975. Our guest is Jenny He, senior exhibitions curator at the Academy Museum of Motion Pictures in Los Angeles. She tells us about the history of this blockbuster movie. We also hear from Carl Gottlieb, who co-wrote the screenplay.

Also, the story of the women who were forcibly detained in sexual health clinics across East Germany, the signing of the Treaty of Versailles, and the 1964 civil rights swimming protest that ended when acid was poured into the pool.

Finally, the horrific account of Polly Sheppard who was a survivor of the Charleston church shooting in South Carolina, USA in 2015.

Contributors: Carl Gottlieb - Jaws co-writer. Jenny He - senior exhibitions curator at the Academy Museum of Motion Pictures in Los Angeles. Sabine - one of the women forcibly detained and abused in a sexual health clinic in East Germany. Archive of William Norman Ewer - journalist who attended the signing of the Treaty of Versailles. Archive of JT Johnson and Mimi Jones -activists in a civil rights swimming protest . Polly Sheppard- survivor of the Charleston Church shooting.

This programme contains movie excerpts from the 1975 film which was a Universal Picture, a Zanuck/Brown production and directed by Steven Spielberg. (Photo: Steven Spielberg on the set of the film 'Jaws' in 1975. Credit: Archive Photos/Stringer)


51min 07sec


Inflation and the cost of living

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