Chapter 31 Wrap Up

Chapter 31 Wrap Up - Chapter 31 Wrap Up I. 1970s Economy...

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Chapter 31 Wrap Up I. 1970s Economy and Mood a. Nixon Resignation i. Nixon forced to resign ii. Gerald Ford – minority leader of the House became President iii. Wave of skepticism sweeps the country 1. 1974 FOIA (Freedom of Information Act) a. strengthened to give citizens greater access to files federal agencies amass on them iv. 1974 Fair Campaign Practices Act limited campaign contributions 1. but provided for PACs (political action committees) to donate up to 5,000 per candidate, actually allows more money spent b. Ford Interlude i. Ford was well liked, until September 1974 when he offered Nixon a full pardon an anything he might have done – says to the people that Nixon probably had been guilty c. Nation Looks to Leaders it can trust i. 1976 Election 1. Jimmy Carter is an outsider, 2. Liberal in a time that had been characterized by more conservatives for the preceding administration, and while the “silent majority” continued to expand 3. More environmental legislation, greater diversity in cabinet and major positions, hoped to ensure human rights abroad ii. Being an outsider has its faults too 1. Hurt by outsider talk – couldn’t work with Congress as well as he could have, people weren’t ready for alternative energy, upset at escalating inflation d. Economy i. Energy Crisis 1. late 1960s nation buying more oil on world market to keep up with demand 2. OPEC (Organization of Petroleum Exporting Countries) (Saudi Arabia, Kuwait, Iran, Iraq and Venezuela) used oil as a political and economic weapon 3. produced 80% of world’s exports – took advantage to maximize profits 4. announced in 1973 that it wouldn’t sell to nations supporting Israel and would raise prices 400% 5. leads to chaos of gas lines, increasing inflation, schools and offices shutting down 6. enormous shock to the American psyche – they felt like they were held hostage to economic forces beyond their control ii. Inflation 1. out of control caused by paying for Vietnam war, Great Society, 1
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productivity slowing, dependency on cheap sources of energy 2. noticeable decline in standard of living iii. Deindustrialization 1. Homestead piece 2. companies find it is more profitable to go elsewhere 3. most dramatic occurs in what we now know as the “rustbelt” – the areas in the Midwest and Northeast that were part of the industrial revolution in America 4. corporations and workers move to the Sunbelt for jobs – labor and land are cheaper there iv. Competition 1. Japan and Germany weren’t going to be recovering from the war forever – Americans finally have competition for goods, don’t fare as well e. Politics of Resentment i. Especially middle and working class that see wages declining and harder and harder to make it ii. Grass-roots revolt against special interest groups 1. this could be targeted affirmative action, environmentalists, gays, women, upset at higher taxes, want confidence again
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This note was uploaded on 04/07/2008 for the course HST 110 taught by Professor Enloe during the Spring '08 term at ASU.

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Chapter 31 Wrap Up - Chapter 31 Wrap Up I. 1970s Economy...

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