[peisistratos]

> Volcker showed that focusing on and killing inflation by raising interest rates, even to extreme levels (briefly up to ~20%), you end both inflation and stagnation.

Another thing jacked up was the unemployment rate - to 11%. Bad for the people doing the work and creating the wealth, good for the heirs receiving dividends from the expropriated surplus time if those who work.

Jacking the interest rate up to ~20% so that unemployment goes to 11% is not a stroke of genius, it's just something no one was politically capable of doing beforehand.