There was also significant monetary loosening and the supply side was a lot less flexible. A year later we also had an oil price shock after the Yom Kippur war.

There was also significant monetary loosening and the supply side was a lot less flexible. A year later we also had an oil price shock after the Yom Kippur war. Oil prices are actually falling now, the supply side is far less regulated and monetary policy is tightening. So I'd say there are significant differences.