3 ms·
A lot of changed in the 70s. End of Bretton Woods, Nixon goes to China, oil shock, Southern strategy changes party politics, War on drugs starts, 1968 movements
by jampekka 2y ago
A lot of changed in the 70s. End of Bretton Woods, Nixon goes to China, oil shock, Southern strategy changes party politics, War on drugs starts, 1968 movements fail, FED turns to monetarism culminating in the Volker shock, Thatcher elected in UK (with Reagan shortly after).
In short it was probably mainly the neoliberal turn.