Ch.32 The Troubled Economy -- The Girls' Third Period AP US History Notes

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Date Posted: 17:34:41 04/03/03 Thu
Author: Hilary
Subject: Ch.32 The Troubled Economy

*Economy was the center of most economis envy because it dominated above all
*Inflation soared during Nixon's presidency
*most visible cause was the federal deficit spending to fund the war during the 1960s
*also, third world countries realized the vale oof raw materials and began to demand more money
*another, energy: fossil fuels
- dependent b/c of cars, and wasteful with the use of oil and gas in homes, schools, and factories
*OPEC used as a political power because of shipping of petroleum to countries on opposite side of the war
*OPEC raised prices 400%
*First fuel shortage since WW2
*Manufacturing sector also declined
*factories not really needed /c of the end of WW1 and WW2
*factories much too old unlike newly rebuilt factories in Japan after war
* compition begins
*"knowledge-based" companies opened and factories closed

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