decades

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April 10, 2026

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April 10, 2026

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"This response was surprising not only because of its scale but also because it contradicted the conventional narrative of economic history since the 1970s. The decades prior to the crisis had been dominated by the idea of a “market revolution” and the rollback of state interventionism. Government and regulation continued, of course, but they were delegated to “independent” agencies, emblematically the “independent central banks,” whose job was to ensure discipline, regularity and predictability. Politics and discretionary action were the enemies of good governance. The balance of power was hardwired into the normality of the new regime of deflationary globalization, what Ben Bernanke euphemistically referred to as the “great moderation.” The question that hung over the dispensation of “neoliberalism” was whether the same rules applied to everyone or whether the truth was that there were rules for some and discretion for others. The events of 2008 massively confirmed the suspicion raised by America’s selective interventions in the emerging market crises of the 1990s and following the dot-com crisis of the early 2000s. In fact, neoliberalism’s regime of restraint and discipline operated under a proviso. In the event of a major financial crisis that threatened “systemic” interests, it turned out that we lived in an age not of limited but of big government, of massive executive action, of interventionism that had more in common with military operations or emergency medicine than with law-bound governance. And this revealed an essential but disconcerting truth, the repression of which had shaped the entire development of economic policy since the 1970s. The foundations of the modern monetary system are irreducibly political."

- 1970s

• 0 likes• decades• 1970s•
"Who ever decided that Americans were so bad off in the seventies anyway? From the right-wing revisionist propaganda that has become accepted as fact, you'd think that Americans under President Carter were suffering through something like the worst of the Weimar Republic combined with the Siege of Leningrad. The truth is that on a macroeconomic level, the difference between the Carter era and the Reagan era was minimal. For instance, economic growth during the Carter Administration averaged 2.8 percent annually, while under Reagan, from 1982 to 1989, growth averaged 3.2 percent. Was it really worth killing ourselves over that extra .4 percent of growth? For a lucky few, yes. On the other key economic gauge, unemployment, the Carter years were actually better than Reagan's, averaging 6.7 percent annually during his "malaise-stricken" term as compared to an average 7.3 percent unemployment rate during the glorious eight-year reign of Ronald Reagan. Under Carter, people worked less, got far more benefits, and the country grew almost the same average annual rate as Reagan. On the other hand, according to the Statistical Abstract of the United States for 1996, under Reagan life got worse for those who had it worse: the number of people below the poverty line increased in almost every year from 1981 (31.8 million) to 1992 (39.3 million). And yet, we are told America was in decline until Reagan came to power and that the country was gripped by this ethereal malaise. Where was this malaise? Whose America was in decline? The problem with the 1970s wasn't that America was in decline, it was that the plutocracy felt itself declining. And in the plutocrats' eyes, their fortunes are synonymous with America's."

- 1970s

• 0 likes• decades• 1970s•
"Since the mid-1970s, neoliberal economic policies have increasingly pervaded rich democracies. A list of such policies would include the following: enacting international trade agreements that strongly favor capital interests and constrain democratic policy making; deregulating markets (especially in the financial sector); tightening bankruptcy regulations and imposing harsher policies toward individual and state debtors; enhancing intellectual property protections; cutting taxes (especially on top incomes, capital income, and inheritance); retrenching the welfare state (especially replacing cash benefits with benefits conditioned on work); weakening antitrust enforcement; assaulting labor unions and laws protecting workers; reducing workers' pensions; delegating labor and trade disputes to private arbitrators; outsourcing public functions to private enterprise; and replacing Keynesian economic policies oriented to full employment with fiscal austerity. Taken together, these policies have had three principal effects. First, they have increased economic inequality and shifted the distribution of income from labor to capital, leading to stagnant wages for lower-tier workers, even as productivity has grown. Second, these policies have also constrained and undermined democracy, reducing its ability to respond to the needs and interests of ordinary people . . . Third, neoliberal policies have shifted economic and political power to private businesses, executives, and the very rich. More and more, these organizations and individuals govern everyone else."

- 1970s

• 0 likes• decades• 1970s•
"The 1960s were revolutionary times. Across the world, people demanded national independence, racial equality, women's rights, and more humane societies. Their actions gave birth to radical changes in politics, culture, and social relations that influence our lives to the present day. Specific events and individuals moved the hearts of Puerto Ricans living in the United States. The African American struggle for freedom and justice led the way. Malcolm X's powerful speeches about self-determination and self-defense taught us that revolutionary change was in our hands. When Malcolm was assassinated in 1965, we mourned the loss of a great spokesman and leader. Two months later, don Pedro Albizu Campos, Puerto Rican freedom fighter, died after being imprisoned for twenty-six years in the United States where he was subjected to radiation experiments. Again, we cried and grieved a national hero. The war in Vietnam dominated global attention. In 1968, the Tet Offensive a series of attacks by North Vietnamese forces on South Vietnamese cities, including on the US Embassy grounds in Saigon-shocked the world. The American command retaliated swiftly causing heavy casualties, and live television coverage brought the war's reality into our homes. Worldwide protests intensified. A year earlier, Dr. Martin Luther King Jr. had spoken out against the war, calling it an enemy of the poor among other things. Emphasizing the relation between the war machine and poverty, Dr. King organized the Poor People's Campaign urging black, white, brown, and Asian people to camp out in front of the Capitol Building in Washington D.C. until either a job or a living income was guaranteed for all. When Dr. King was assassinated on April 4, 1968, thousands took to the streets in more than two hundred uprisings in 172 cities. Many had lost faith, and no longer believed, that America could be reformed via elections or demonstrations. A new wave of grassroots militancy surged."

- 1960s

• 0 likes• decades• 1960s•
"It could be that today's conservative movement remains in thrall to the same narrative that has defined its attitude toward film and the arts for decades. Inspired by feelings of exclusion after Hollywood and the popular culture turned leftward in the '60s and '70s, this narrative has defined the film industry as an irredeemably liberal institution toward which conservatives can only act in opposition—never engagement. Ironically, this narrative ignores the actual history of Hollywood, in which conservatives had a strong presence from the industry's founding in the early 20th century up through the '40s, '50s and into the mid-'60s]. The conservative Hollywood community at that time included such leading directors as Howard Hawks, Frank Capra, and Cecil B. DeMille, and major stars like John Wayne, Clark Gable, and Charlton Heston. These talents often worked side by side with notable Hollywood liberals like directors Billy Wilder, William Wyler, and John Huston, and stars like Humphrey Bogart, Lauren Bacall, and Spencer Tracy. The richness of classic Hollywood cinema is widely regarded as a testament to the ability of these two communities to work together, regardless of political differences. As the younger, more left-leaning "New Hollywood" generation swept into the industry in the late '60s and '70s, this older group of Hollywood conservatives faded away, never to be replaced. Except for a brief period in the '80s when the Reagan Presidency led to a conservative reengagement with film—with popular stars like Clint Eastwood, Sylvester Stallone, and Arnold Schwarzenegger making macho, patriotic action films—conservatives appeared to abandon popular culture altogether. In the wake of this retreat, conservative failure to engage with Hollywood now appears to have been recast by today's East Coast conservative establishment into a generalized opposition toward film and popular culture itself. In the early '90s, conservative film critic Michael Medved codified this oppositional feeling toward Hollywood in his best-selling book Hollywood vs. America."

- 1960s

• 0 likes• decades• 1960s•
"San Francisco in the middle sixties was a very special time and place to be a part of. Maybe it meant something. Maybe not…but every now and then the energy of a whole generation comes to a head in a long fine flash, for reasons that nobody really understands at the time — and which never explain, in retrospect, what actually happened. My central memory of that time seems to hang on one or five or maybe forty nights — or very early mornings — when I left the Fillmore half-crazy and, instead of going home, aimed the big 650 Lightning across the Bay Bridge at a hundred miles an hour...booming through the Treasure Island tunnel at the lights of Oakland and Berkeley and Richmond, not quite sure which turnoff to take when I got to the other end...but being absolutely certain that no matter which way I went, I would come to a place where people were just as high and wild as I was... There was madness in any direction, at any hour. If not across the Bay, then up the Golden Gate or down 101 to Los Altos or La Honda...You could strike sparks anywhere. There was a fantastic universal sense that whatever we were doing was right, that we were winning...And that, I think, was the handle — that sense of inevitable victory over the forces of Old and Evil...We had all the momentum; we were riding the crest of a high and beautiful wave... So now, less than five years later, you can go up on a steep hill in Las Vegas and look West, and with the right kind of eyes, you can almost see the high-water mark — that place where the wave finally broke and rolled back."

- 1960s

• 0 likes• decades• 1960s•
"We were there during the legendary sixties, with visions and insights and lava lamps and black lights and sitar music and really dynamite home-grown weed that would get you high in only 178 tokes. We lit candles and sat around listening to John Lennon sing, with genuine passion in his voice, about how he was the egg man, and they were the egg men, and he was the walrus, and by God we knew exactly what he meant. That was the level of hipness that we attained, in My Generation. Oh sure, people tried to put us down, just because we got around. Our parents would come into our bedroom, where we were listening to the opening guitar lick of "Purple Haze" with the stereo cranked up loud enough to be audible on Mars (which is where Jimi Hendrix originated) and they'd hold their hands over their ears and make a face as though they were passing a kidney stone the size of a volleyball and they'd shout: "You call that music? That sounds like somebody strangling a cat. Our parents' idea of swinging music was Frank Sinatra snapping his fingers in front of sixty-seven guys who looked like your dentist playing the trombone. They were totally Out Of It, our parents. Hopeless. They were so square they though that people, other tan Maynard G. Krebs, actually used words like "square." As Bob Dylan, who as so hip that sometimes even he didn't understand what he meant, put it: "Something is happening here, and you don't know what it is, do you, Mr. Jones?" That was our parents: Mr. and Mrs. Jones. But not us. We defined hip. We set all kinds of world hipness records, and we were sure they'd never be broken."

- 1960s

• 0 likes• decades• 1960s•
"The mid-1960s witnessed the climax of the postwar global economic expansion. Whether measured by mounting raw-material, agricultural, and manufacturing production, or by high employment and consumption levels, the growth between 1945 and 1965 had been nearly universal. Primary-producer countries had also shared in this prosperity, increasing their annual gross domestic product by at least 4 percent in the 1950s. In the 1960s—which the United Nations designated the First Development Decade—this figure rose to 5 percent and was even higher in the oil-producing countries. The Green Revolution in agriculture (the application of technology, including irrigation, fertilizers, pesticides, and disease-resistant, high-yield crop varieties) increased the world’s food supply. But the new global landscape also had darker sides. Increased food yields and improved transportation networks led to steep population growth but also an alarming drop in local production. There were the first warnings of a “Silent Spring”— the threat of industrial chemicals to the natural environment, made vivid in Rachel Carson’s 1962 book by that name. Scientists feared the reduction in biodiversity as a result of applying technology to agriculture. There were also significant economic and social consequences, including a rise in class disparities in the countryside (wealthier farmers were better able to acquire loans and information, and men had easier access to credit than women), the delay or cancellation of land-distribution programs, and the mass migrations of rural people to Third World cities that lacked houses, jobs, schools, medical facilities, and social services for the new arrivals. By the mid-1960s the Superpowers were experiencing the limits of their economic strength. The vast US and Soviet expenditures on their conventional and nuclear forces, ambitious space programs, and expanding weaponry deliveries to their allies and overseas clients increasingly diverted capital from civilian investment—particularly from education, social services, public health, and infrastructure projects such as mass transportation—and promoted inflation (which the Soviets were better able to hide), leading to the erosion of the quality of public life in both the West and the East."

- 1960s

• 0 likes• decades• 1960s•