The inflationist crisis that the Western countries are now knowing and the envisioned remedies are inevitably sending back to that one of the Seventies final years, generated by the second oil shock, itself provoked by the war in Iran. During near forty years, the developed world was thinking it had put an end to inflation and was even starting to be worried by a deflation risk. In the United States, it is the appointment, at the end of 1979, of a new chairman at the Federal Reserve, Paul Volcker, which constituted a real turnaround. To fight against inflation which was ...