Jump to ContentJump to Main Navigation
The 1970sA New Global History from Civil Rights to Economic Inequality$
Users without a subscription are not able to see the full content.

Thomas Borstelmann

Print publication date: 2011

Print ISBN-13: 9780691141565

Published to Princeton Scholarship Online: October 2017

DOI: 10.23943/princeton/9780691141565.001.0001

Show Summary Details
Page of

PRINTED FROM PRINCETON SCHOLARSHIP ONLINE (www.princeton.universitypressscholarship.com). (c) Copyright Princeton University Press, 2017. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in HSO for personal use (for details see http://www.universitypressscholarship.com/page/privacy-policy).date: 11 December 2017

The Spread of Market Values

The Spread of Market Values

Chapter:
(p.122) Chapter 3 The Spread of Market Values
Source:
The 1970s
Author(s):

Thomas Borstelmann

Publisher:
Princeton University Press
DOI:10.23943/princeton/9780691141565.003.0004

This chapter tracks the economy of the 1970s as it began to decline after the prosperity of previous decades. Economic growth had defined human history for two hundred years, reaching a peak in the generation after 1945 when world economic growth averaged an extraordinary 5–7 percent per year. Americans rode that growth to a higher standard of living than anyone else. But in the 1970s it all seemed to be flowing away. Unemployment, oil shortages, a plunging stock market, recession, and, above all, inflation were apparently ending these golden years of unparalleled prosperity. Inflation hit everyone, and it hit the poor hardest of all. Persistent inflation undercut dreams and hopes for the future. The economic trauma of the 1970s threatened to destabilize Americans' understanding of how the world worked.

Keywords:   market values, globalization, deregulation, recession, inflation, U.S. economy, economic changes, market solutions

Princeton Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us.