"In the 1930s, the crisis of the capitalist model had helped produce a new authoritarianism, notably in Germany, but also elsewhere, an authoritarianism characterised by autarky, populism and corporatism. In contrast, in the 1970s and 1980s, widespread fiscal and economic difficulties, many linked to globalist pressures, led either to the panacea of social welfare or to democratic conservative governments, especially in the USA and Britain, that sought to ‘roll back the state’ and that pursued liberal economic policies. These governments opened their markets and freed currency movements and credit from most restrictions. The economic crises in the West in the 1980s did not lead either to authoritarian regimes or to governmental direction of national resources on the Soviet model, even if the Left, notably in Britain in 1974–9 and in France in 1981–3, increased such direction. Economic difficulties encouraged the rise of far-Right political parties, as in France, West Germany, Belgium, Italy and Austria, but neither they, nor the radical Left, were able to seize power, nor even to exercise much influence on political or economic policies in West Germany and France. However, in Italy, the far-Right came into coalition government and it also became a key political player in Austria."
January 1, 1970
https://en.wikiquote.org/wiki/1970s