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797-800. Recognize different historical viewpoints related to the Reagan era. Discuss the social and economic impact of Reaganomics and the booming economy of the 1980s.
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797-800 Recognize different historical viewpoints related to the Reagan era. Discuss the social and economic impact of Reaganomics and the booming economy of the 1980s.
A man and his son were in a car accident. The man died on the way to the hospital, but the boy was rushed into surgery. The surgeon said “I can't operate, for that's my son!” How is this possible?
Recognizing Point of View • Directions: • Map “1980 Presidential Election”- What argument or position does this map support?”
Recognizing Point of View • Directions: • Map “1980 Presidential Election”- What argument or position does this map support?” • Read and complete “Partial Truths” and label the argument likely supported by Journalist Smith, Jones or Lee.
Reagan’s Domestic Revolution • The Impact ? • Organized Labor Unions weakened as membership declined. • PATCO strikers were fired from their controller jobs. • NLRB continued to attack collective bargaining activities by unions(Nat’l Labor Relations Bd). • Corporations demanded wage rollbacks from employees. • Blue-collar jobs decreased from 36% (‘60) to only 25% (‘99). • Corporate mergers allowed for further cutbacks.
Reagan’s Domestic Revolution • The Impact ? • Glorification of consumerism • Young urban professionals called “Yuppies” drove the consumer economy of the 1980s. • Forbes business magazine began publishing a list of the richest 400 people in the US. • Business experts like Ivan Boesky lectured about how greed is a good thing in American business.
Reagan’s Domestic Revolution • The Impact ? • Glorification of consumerism • Some rejected the idea of corporate greed as positive: • Novelists such as Brett Ellis, Jay McIntery and Tom Woolfe’s “Bonfire of the Vanities” (1987) wrote about emptiness of life. • Punk and Grunge Rock Bands as well as Rap music attacked the commercialization of the U.S. • Grunge Groups like Nirvana wrote songs, promoted style of dress rejected 1980s norms.
Reagan’s Domestic Revolution • The Impact ? • The wealth gap widened between rich and poor. • Tax cuts meant Social Security tax had to be increased, hurting the bottom 20% wage earners most. • Corporations downsized. • Meant lower paying “white-collar” jobs were cut due to computers and temporary workers (“Temps). • Poverty rate increased. • Americans living in poverty increased from 11% (1973) to 15% (1980s).
Reagan’s Domestic Revolution • The Impact ? • Poverty rate increased. • Americans living in poverty increased from 11% (1973) to 15% (1980s). • Feminization of poverty – women were hardest hit. • Most new jobs created in the 1980s paid only poverty level wages. • The number of homeless people tripled to an estimated 700,000 in the U.S. during the 1980s.
