petej + 1970s   39

Rethinking the 1970s | openDemocracy
"As one commentator has put it: 'the dominant narrative is that the 70s recession was awful, while the 80s recessions were necessary. I think this is down to one key fact: the 70s recession hit the rich and the middle class, whereas in the 80s it was the poor who got screwed'. That's pretty much been the way ever since - yet we're still trapped in this notion that the 1970s were a nightmare, when in fact what happened was that the rich were getting squeezed and global shifts - the formation of the OPEC cartel key amongst them - caused huge shocks to the world economy."

"we shouldn't be afraid of the 1970s. We shouldn't allow it to be used as a bugbear to dismiss opposition to neoliberalism and we shouldn't cede control of this crucial era in our past to Conservative historians such as Sandbrook whose political visions are so at odds with our own. We should learn from it."
politics  history  economics  crisis  neoliberalism  1970s  oil  OPEC 
october 2013 by petej

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