1960 - 1995. Boom, Bust, and Boom Again The Golden Years of the 1960s.
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Transcript of 1960 - 1995. Boom, Bust, and Boom Again The Golden Years of the 1960s.
![Page 1: 1960 - 1995. Boom, Bust, and Boom Again The Golden Years of the 1960s.](https://reader035.fdocuments.net/reader035/viewer/2022062423/5697bfd51a28abf838cad658/html5/thumbnails/1.jpg)
1960 - 1995
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Boom, Bust, and Boom Again
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The Golden Years of the 1960s
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US Economy Grows 2%-2.5% per Year on Average
• 6.1% in 1962
• 4.4% in 1963
• 5.8% in 1964
• 6.4% in 1965
• 6.5% in 1966
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Almost an Entire Decade
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Other Economic Factors in the 60s
• Unemployment
• Inflation
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Dismal Decade of the 1970s
• Recession– December 1969 – November 1970– November 1973 – March 1975
– January 1980 – June 1980– July 1981 – November 1982
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Unemployment through the Recessions
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Inflation through the Recessions
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Price Controls
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Inflation after Price Control
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News vs. Economists
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Globalization
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OPEC Oil Embargo
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Results of Oil Embargo
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Back to the Story
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Imports
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Imports
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Worst ProblemProductivity Slowdown
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Productivity
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Productivity
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Productivity• 1960-1964—productivity growth about 3%
per year
• 1965-1969—productivity growth slowed to about 2.4% per year
• 1970-1974—productivity growth slowed to about 2.0% per year
• This continued down until the mid-1980s and remained low until at least the 1990s
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Productivity
• .
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Why Did All of This Happen?
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What went wrong in the 1970s
• Guns and Butter Story
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Here is another one
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What went wrong in the 1970s
• Guns and butter story• Oil Prices did it story
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What went wrong in the 1970s
• Guns and butter story• Oil Prices did it story• Stop-Go Monetary Policy Story
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What went wrong in the 1970s
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What went wrong in the 1970s
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What went wrong in the 1970s
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New Challenges for the 1980s
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New Challenges for the 1980s
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New Challenges for the 1980s
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New Challenges for the 1980s
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New Challenges for the 1980s and Beyond
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Ronald Reagan
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Budget Deficits
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Budget Deficits
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Debt / GDP
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Worries in the mid-1980s
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Globalization Continued to be a Fear