Nixon. Nixon happened
this post was submitted on 15 Jan 2025
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And Milton Friedman
Why is this here? This is a bullshit website started by a crank that appeals to people who do not understand or have not formally studied economics in the last 40 years or so.
1971 is not a specifically unique economic period unless you pick and choose data to make it appear so.
The Soviet Union seriously threatened the US in military and economic power, as well as influence on other nations.
The second nation on the American continent had just become communist.
So everything even resembling leftism was seen as a threat. America took a hard turn to the right and towards our current model of "line must go up for the rich".
What nations “went communist” in the Americas?
Cuba (1961 through revolution) and Chile (1970 through democratic elections)
Chile never got that far. They elected a socialist who was overthrown before they could even collectivize.
True. My first comment was a bit over the top, written from the point of view of US conservatives.
Quote by Kissinger:
"I don't see why we need to stand by and watch a country go communist due to the irresponsibility of its people. The issues are much too important for the Chilean voters to be left to decide for themselves."
The government stopped breaking up monopolies.
Except that that's not true. We know Ma Bell was broken up in 1982.