The 1970s was a period of divisiveness and declining confide…
The 1970s was a period of divisiveness and declining confidence in America’s position in the global economy. Under the presidencies of Gerald R. Ford and Jimmy Carter, Americans dealt with a hitherto unimagined economic dilemma called [BLANK-1]. Joblessness, homelessness, and the reduced purchasing power of the American dollar left many ordinary families to struggle throughout the decade. Cheap foreign manufacturing in places like Mexico, Taiwan, or Brazil led to foreign-made products hitting American shelves. Companies moved overseas in order to maintain profitability and investment capital fled the United States to look for overseas investments.
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