HOW PIVOTAL WERE THE SEVENTIES?

[...]by producing high rates of growth, it held out the prospect of increasing tax revenues that might be used for public investment and the redistributionist policies of the Great Society-and, not incidentally, the high rates of military spending necessary for waging the Cold War She then reviews the economic policies of the Nixon and Ford administrations, especially their often-frustrated efforts to deal with the growing problem of inflation. In the 1970s, in response to U.S. complaints and their own economic problems, many industrial capitalist nations revamped these protectionist practices and developed more subtle methods of protecting their economies.\n And, finally, the 1970s witnessed a profound change in the national mood, a development that is hard to prove but must be taken into account if we are to make sense of the decade and acknowledge its place in the larger narrative of post-1945 America.