AP US History in 1 Minute Daily: 1970s Economic Challenges (Day 289/309)

Hey APUSHers, let’s chat about 1970s Economic Challenges as part of my series- APUSH in 1 Minute Daily!

The Misery Index, MLT Today

During the 1970s, the United States encountered a series of domestic and international challenges that profoundly affected its economy. 

1970s Inflation Protests, Forbes

Stagflation emerged as a major concern, characterized by limited economic growth coupled with high inflation rates, presenting a unique policy dilemma for policymakers. 

Oregon Gasoline Dealer 1973, Wikimedia Commons

The OPEC oil embargo in 1973, triggered by geopolitical tensions in the Middle East, and subsequent oil price shocks inflicted severe economic strain, leading to fuel shortages, surging energy costs, and disruptions across various industries reliant on oil. 

Manufacturing Decline, Belfer Center

Increased global competition and the decline of traditional industries like manufacturing, further compounded economic challenges and contributed to soaring unemployment and diminished consumer confidence.

The economic turbulence of the 1970s contributed to a reevaluation of economic policy approaches and a growing distrust by Americans in the ability of the federal government to resolve economic problems.

Join me tomorrow as I explain 1970s Political Scandals in the next APUSH in 1 Minute Daily!