Ford, Carter, and the Economic Malaise: Crash Course US History #42

In which John Green teaches you about the economic malaise that beset the United States in the 1970s. A sort of perfect storm of events, it combined the continuing decline of America's manufacturing base with the oil shocks of 1973 and 1979 and brought about a stagnant economy, paired with high inflation. Economists with a flair for neologisms and portmanteau words called this "stagflation," and it made people miserable. Two presidential administrations were scuttled at least in part by these economic woes; both Gerald Ford and Jimmy Carter are considered failed presidents for many reasons, but largely because of an inability to improve the economy. (hint: In reality, no one person can materially change something as big as the world economy, even if they are president, but one person sure can make a handy scapegoat!) So, by and large, the 70s were a pretty terrible time in America economically, but at least the decade gave us Mr. Green. Crash Course is no longer available on DVD, sorry to disappoint. Chapters: Introduction: The 1970s 00:00 Economics in the 1970s 1:02 The End of the Gold Standard 2:32 The Decline of American Manufacturing 2:54 Oil Shocks 4:12 Stagflation and the Misery Index 5:16 Gerald Ford's Presidency 5:49 Jimmy Carter's Presidency 6:52 Mystery Document 7:15 Nuclear Power 8:51 Carter's Foreign Policy 9:17 The Economic Crisis of the 1970s 11:18 Credits 12:44 -- Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Instagram - https://www.instagram.com/thecrashcourse/ CC Kids: http://www.youtube.com/crashcoursekids