Abstract:

Between 1974 and 1984, the United States experienced an extended period of acute economic turmoil. During this informal decade, unemployment and inflation rates skyrocketed, a number of America’s largest cities and corporations teetered on the brink of bankruptcy, and hundreds of thousands of the nation’s blue-collar workers permanently lost their jobs. Yet a mere four years later, inflation and unemployment rates were falling, the country’s largest industrial corporations were reporting p...

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