Another big mover came just after, 1973, the oil supply shock. This in turn lead to stagflation.
Another thing I didn't see in that data set was the relative growth / decline of union membership; i.e. how that affected wage growth, indirect effect of negotiating power. It would also be interesting to see whether that was a leading co-factor or a following co-factor.
What interesting is looking at world oil production over the last 100 or so years. Oil production follows a smooth exponential curve right up till about 1970. And then it becomes supply constrained.
Another thing I didn't see in that data set was the relative growth / decline of union membership; i.e. how that affected wage growth, indirect effect of negotiating power. It would also be interesting to see whether that was a leading co-factor or a following co-factor.