What 1970's and 80's inflation and oil shocks can teach us

With concerns high about inflation and energy markets, we look back at the 1970's, when inflation hit double digits and oil prices were sky-high.

Here & Now's Scott Tong speaks with Meg Jacobs, history professor at the Princeton School of Public and International Affairs. Her book is "Panic at the Pump: The Energy Crisis and The Transformation of American Politics in the 1970s."

Tong also speaks with William Silber, professor of finance and economics at the Stern School of Business at New York University. He's the author of "Volcker: The Triumph of Persistence."