The U.S's. economy start to go into disrepair in the mid 1970s for various reasons. Dissimilar to the monetary predominance of the after war time frame after 1945, the 1970s was financial shortcoming. This huge change was expected to
- expanded risk from Foreign Comp.(Jap and Germ)
- harmed World Trade(GDP 32-18%)
- Oil emergency which started inflation(OPEC)
- deindustrialization(stagflation, no associations, low wage)
the diff. in the vicinity of 1945 and 1973 is
the cost of oil, strength in steel and auto businesses, work, GDP,stagflation