HISTORY 5 Lecture Notes - Lecture 27: 1968 Summer Olympics, Organization Of Arab Petroleum Exporting Countries, Stagflation
Document Summary
3rd world national liberation struggles overlapped with u. s. civil rights, anti-war & youth rebellion politics: mlk and gandhi tactics used by civil rights activists & by students, often together . Racial tensions remained high: watts 1965 rebellion (34 dead); riots across us in july. Student movements in us, eur & beyond: chicago, berkeley, madison, wi. 1968: mlk killed in april; robert f kennedy in l. a. in june. Dem convention in chicago draws protests, police violence & clashes. Late 60s, capitalism"s golden age goes bust; rates of corporate profit begin to slide; hourly wages fall or stagnate ever since. Structural causes the very competitiveness of the system: us supported, then lost to. Ger & japanese competition, yet eventually those rival capitalist economies also decline. Us manufacturing profits down 40%; 30% drop in private business profits overall. Growth rates & profit margins show an original downturn in the late 60s. This is what set off neoliberal economic globalization .
