In 1971, the US withdrew from the Bretton-Woods agreement. In 1973 we had the oil crisis: Net production in western countries had peaked and governments switche

In 1971, the US withdrew from the Bretton-Woods agreement. In 1973 we had the oil crisis: Net production in western countries had peaked and governments switched over to importing oil from OPEC. Those two events disenfranchised the working man in the US.