History 2171A/B Lecture Notes - Lecture 3: John Maynard Keynes, World Energy Consumption, Nixon Shock
8 Apr 2017
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Republican party notice opportunity in late 1960s and reaches out to disaffected white working class population (who was paying for social programs for women and black people) This lecture - the 1970s: feminist movement had some massive movements in 70s, women get access to credit for the first time. Oil had become for most of the western world central to their prosperity in the 20th century: dickie without oil american civilization as we know wouldn"t exist -1933, world energy consumption more than tripled. Us had historically provided its own oil, but then began to need more and more of export oil. Drove a big wedge between middle east countries and us. Opec conspired to raise the price of oil in the 1970s - the oil shock/oil crisis. Major shock to the american system that relied on access to cheap oil: us gov reduces speed limit from 65 to 55 to reduce energy consumption.
