History 171 Lecture 4-14

History 171 Lecture 4-14 - History 171 Lecture 4/14/08 A...

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History 171 Lecture 4/14/08 A New America, 1973-2000 Announcements: Teach-In on Wednesday (costume), Review Sheet on Wednesday I. Economic Decline 1973-1985 Clearly starts in 1973 Measures of decline…1) rising unemployment-usually with deflation (8%) and 2) rising inflation- usually with employment (8%) (Should not rise together) Decline in America’s heartland (steel, cars) i.e. Pittsburg, Buffalo, Philly, Cleveland, Gary (IN), Detroit west of missippi, north to Great lakes Business’s are closing, car factories ending “Rust Belt” greatness of industry now shutting down, hollow area of previous industrial area (ghost town) Liberal solutions aren’t as good as they were (looked at with disfavor) Conservatism (government moving out of large business and let market do its work) Yom Kippur War OPEC (middle east screws industrial world in oil) shock of quadrupled gas prices U.S. loses postion it had out of WWII (had kept their industrial power – no competition for a good amount) U.S. takes on a major plan to rebuild competitors (making them real
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This note was uploaded on 07/09/2008 for the course HIST 171 taught by Professor Sociology during the Spring '08 term at Vanderbilt.

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History 171 Lecture 4-14 - History 171 Lecture 4/14/08 A...

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