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Should be noted the 1970s were marred with economic turmoil and inflation shocks. This would have been essentially just before the 1973 oil crisis. The United
by marginalia_nu 4y ago
Should be noted the 1970s were marred with economic turmoil and inflation shocks. This would have been essentially just before the 1973 oil crisis.
The United States in general and New York City in particular wasn't doing too hot in the 1970s. I think it's hard to understate quite how bad things were[1].
[1] https://www.youtube.com/watch?v=RQkhD-2cWwY https://www.youtube.com/watch?v=RQkhD-2cWwY
- moloch-hai 4y agoHard to overstate. But they were bad because of irrational choices, not despite them.
- marginalia_nu 4y ago> Hard too overstate. to > But they were bad because of irrational choices, not despite them. Eh, I think a lot of the choices were rational given the available information and understanding at the time.