Unformatted text preview: military until the end Deindustrialization- during the 1980s, the upward economic momentum propelled by industrialization that followed WWII came to a halt, making manufacturing jobs disappear from the Northeast and Midwest. • Particularly hard on blacks and Puerto Ricans • A service economy was emerging, based on finance, sales, transportation, personal care, and technical advances. • Importation became more beneficial because manufacturing occurred in other countries Supply-side Economics- or Reaganomics, a doctrine consisting of the government pulling out of the market and, primarily by cutting taxes to the wealthy in hopes they will put more money into capital ventures, leading to cheaper production, lower prices, and increased demand, therefore expanding the economy. • Poor people of color were hit hardest • Wage gap increased; emergence of white economic privilege...
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- Spring '08