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End of Vietnam War and The Gold Age
Many problems started to arise
-energy shortage
-high inflation
-high unemployment -
Early unemployment
The US unemployment rate went from 3% to 8%. The contribution of soldiers returning from the Vietnam war and the women workforce left about 96 million unemployed people -
18 year olds right to vote
-Were not ready to vote becasue they did not know enought back round infornmation to make a wise vote.
-Had not experence enough in order to make a wise vote.
-May not have voted for who or what was best for the U.S economy. -
Conservation of Non-renewable
Nations wanted to start conserving non-renewable resources and started to rely heavily on the Middle Eastern Countries. -
Arab Oil Embargo
Arab and Israel got in to the Yom Kippur war. The Arabs lost the war because Israel got help from western countries. That made the Arab nations angry so they put an Oil Embargo to the western Nations. The participants were some of the most oil rich countries including Saudi Arabia, Iraq and Kuwait. Gas prices tripple. American economy is devastated and now in a Stagflation. Gas went from 35 cents to 90 cents a gallon by the end of the 70s. -
Arab Oil embargo Ended
Embargo ended but the effects on the economy lasted until the 80s. America is still in Stagflation. -
Apple Computer launched
-Was an extremely fast prcessing computer.
-Help create job -
Nuclear Accident at Three Mile Island
-Cost $975 million to decontaminate
-Clean-up started in August 1979 and ended in December 1933 costing a total of $1 billion
-Caused disruptions to businesses and homes in the area
-no longer has the engineering ability to build new plants (have to hire engineers from Japan)
-No new nuclear power plants have been producd since
-Severely affected the economy in that area negatively for the first 6 months, but still affected for years to come