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Economic Crisis of the 1970’s

Economic Crisis of the 1970’s. Background. Since World War 2, America’s economy had continually grown Americans were prosperous and living good lives Americans expected that the economy would continue to grow. Stagflation. The oil crisis of 1973 caused a massive rise in inflation

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Economic Crisis of the 1970’s

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  1. Economic Crisis of the 1970’s

  2. Background • Since World War 2, America’s economy had continually grown • Americans were prosperous and living good lives • Americans expected that the economy would continue to grow

  3. Stagflation • The oil crisis of 1973 caused a massive rise in inflation • Rise in prices • At the same time, the growth of the economy became stagnant • The growth had stopped • Started a recession • The economy shrinks • Unemployment goes up • High inflation + stagnant economy = “stagflation”

  4. Impact • Public morale in America was extremely low • President Carter would eventually lose his re-election campaign largely due to his inability to fix the problem

  5. Pep Talk to America As the poll at the beginning of the class showed, most Americans believe that our country is headed in the wrong direction. This has caused many Americans to doubt whether or not America can regain its strength. Write a pep talk that you would give to America to help them feel better about our country and our future. In your pep talk, address (mention) at least 2 possible reasons why Americans may believe that we are headed in the wrong direction AND explain to Americans why you believe they should not be so depressed about these issues

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