How can we explain to the young generation just how bad the 1970s were?

Question

They don't remember double digit inflation. They don't remember double digit unemployment. They don't remember gas lines. They've never known anything but the almost-uninterrupted quarter century of prosperity that we've had since Ronald Reagan reversed many of the Keynesian economic policies that had resulted in an economy measured by the "misery index."

They now seem to take economic good times for granted.

This is in part because Clinton, while he reformed welfare, expanded free trade agreements, cut corporate taxes, deregulated the financial services industry and did almost nothing to reverse Reagan's economic policies, was a Democrat - - - they seem to think that Dean / Pelosi / Kennedy et al, who consistently opposed these policies whether implemented by a Republican or a Democrat, would produce the same results.

I've long argued that Econ 101 should be part of the high school curriculum. Should Economic History be taught too?

Answer 1

This is something that must be done on a family to family basis. The government schools controlled by collectivist liberals will never inform thier students as to the misery of those times. If economic history were taught in school the socailist agenda promoted by the left would be on the scrap heep of history

Answer 2

Um, you actually remember the 70's? I remember it as a good time. I was in the Army for the first time (1972-1974 when Nixon resigned) and I remember the military being really torn apart, by 1976, when we had just gotten out of the Nixon-Ford Years. We had the highest inflation rate (any one remember the Ford "WIN" buttons?)at that time. By the way, I remember long lines at the gas pumps(oh yea, Nixon and Ford were the presidents then.). The military had the highest AWOL rate in history, the military was rampant with drugs and alcoholism and a big race problem. James Earl Carter was elected President in 1976 and then was inaugurated in 1977. The AWOL rate in the military went down, they got rid of the drug addicts in the military, and got rid of the Officers and NCO's in the military that were not doing their job. Then cam Reagan, and the deal they made with Iran, which was this: you keep the hostages until we get into office, and we will give you spare parts and arms and ammunition. Then we sold Iraq the technology to make chemical weapons. Yup, those Republicans sure are a bunch of patriotic 'Americans, aren't they? Maybe Reagan's Alzheimer's explains a lot more than you think. However, those stupid disco suits...70's fasions were poster's for what drugs can really do to you!

Answer 3

I was a teenager and young adult during that time. On the bright side......I was able to work and live and put myself through college. I could fill my car for 7 bucks and drive for over a week. I wasn't in a hugely populated area so I never experienced the gas lines. But I do know many people struggled. For me it was a high point. I did realize I was one of the lucky ones though. That high time didn't last long though and it hasn't been back there since.

I do have to agree with one statement above.LOL If you remember the 70's you weren't there. It was a great time! 10 bucks for concert tickets. I remember some of it.........and what I don't they tell me was great.LOL

Answer 4

The 70's were great! I had lots of fun. BTW, my family was considered economically poor, and it wasn't nearly as bad as how poor people have it today. It was a great time for equality and people weren't so mean spirited, greedy and hateful as they are today. And, the education system was a heck of alot better too. We had critical thinking classes and Econ was taught in high school. So was music, art, literature, creative writing, P.E, art history, Advanced history for all to take, and we had competitive sports for everyone no matter if you were male or female. The idea of cutting any of these classes were absolutely not tolerated to the community. Now they are the first things cut and people wonder why their kids are so screwed up and bored in school. The way some of you cons on this board talk, it sounds like you've never been to high school.

Answer 5

Show them tape of the prices of gas before the embargo and then after.

Or take a dollar and then beside it place .86cents for every dollar you had it was worth about that amount due to inflation.

Yea the 70's sucked, I made about $1.80 an hour at the store, gas was close to a dollar a gallon and my car got about 15 to 20 MPG, savings rates were about 6.5% and interest rates were in the 14% range. A brand new Cadallic ran just over $15,000.00

Now I'm making $15.00 an hour, gas is just over $2.00 a gallon, the car gets 27 to 30 MPG, savings rates about 3 to 4%, interest rates 5 to 6%. An entry level car costs $10,000.00

Answer 6

I saw the movie "Dazed and Confused" and it ruled.

But really, you can't compare decades. There were many things happening nationally and internationally that contributed to the economy. This is true for any time period. You can never say the politics are 100% in control of the economy. For example, 9/11 destroyed some sectors of the economy.

Answer 7

My memories of the 70s don't mirror yours at all-the Reagan I knew certainly was a bit Keynesian(Friedman called him Socialist). He lowered taxes only temporarily, then raised them, increased government debt and spending at the same time. I hope you won't be teaching Econ 101.

Savings rates are negative 1%!!!!

Answer 8

hmmmm we're in a no win war, the quality of our voting mechanisms are highly suspect, our city infrastructures are crumbling, we're TRILLIONS of dollars in debt, the price of everything from gas to food has more than doubled, our major industries have been shipped overseas, cronyism and corruption runs blatantly rampant in our government, our Constitution is being shredded bringing us closer to a plutocratic dictatorship then ever we have been, the minimum wage has only just recently been increased by two measly bucks (and the Repubs fought it), the environment is trashed, our public school system is a mess where "teaching" is no longer the point of schooling just passing some tests that only require regurgitating by rote.

**shrug** telling future generations about what happened in the 70s ain't gonna be near as difficult as explaining what happened in the 2000s.

Answer 9

High schools teach economics "101" already. You hit it on the head, they think Clinton "created" that prosperity. Wait until these young "DEMS" have another Jimmy Carter to deal with. Then they'll see.

Answer 10

I remember the 70s and it was bad. Communism was running rampant across the globe. No one had any idea how to stop them.

Except Ronald Reagan, he should have the republicans nominee in 1976. We wouldn't now have the Iran problem.