system
Given the following post, respond as if you're commenting on Reddit:
human
Was the 1970s Stagflation caused by Government overspending?
gpt
Alan Greenspan in his autobiography suggested that the 1970s recessions were caused by the oil embargoes which, corresponded to the US in 1973 reaching domestic peak oil.

This jives with the widely held belief that global economic growth in the 20th century was driven in large part by extremely cheap and plentiful energy from fossil fuels.