1960 1995 Boom Bust and Boom Again The
1960 - 1995
Boom, Bust, and Boom Again
The Golden Years of the 1960 s
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
Almost an Entire Decade
Other Economic Factors in the 60 s • Unemployment • Inflation
Dismal Decade of the 1970 s • Recession – December 1969 – November 1970 – November 1973 – March 1975 – January 1980 – June 1980 – July 1981 – November 1982
Unemployment through the Recessions
Inflation through the Recessions
Price Controls
Inflation after Price Control
News vs. Economists
Globalization
OPEC Oil Embargo
Results of Oil Embargo
Back to the Story
Imports
Imports
Worst Problem Productivity Slowdown
Productivity
Productivity
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-1980 s and remained low until at least the 1990 s
Productivity • .
Why Did All of This Happen?
What went wrong in the 1970 s • Guns and Butter Story
Here is another one
What went wrong in the 1970 s • Guns and butter story • Oil Prices did it story
What went wrong in the 1970 s • Guns and butter story • Oil Prices did it story • Stop-Go Monetary Policy Story
What went wrong in the 1970 s
What went wrong in the 1970 s
What went wrong in the 1970 s
New Challenges for the 1980 s
New Challenges for the 1980 s
New Challenges for the 1980 s
New Challenges for the 1980 s
New Challenges for the 1980 s and Beyond
Ronald Reagan
Budget Deficits
Budget Deficits
Debt / GDP
Worries in the mid-1980 s
Globalization Continued to be a Fear
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