Ironically we did spend a lot of time on that (I went to school in the eighties) and a lot of folks knew Reagan had really done us dirty. It was probably above my head.
He definitely kicked the county while it was down. But a big part of the US Golden Age was being the last economy standing after WW2.
The end of America’s economic dominance was inevitable, as old colonial powers re-industrialized and newly liberated post-colonial states gained control of their natural resources for domestic use.
By Nixon, American global dominance was sunsetting regardless of our domestic policies. That’s why we gave up the gold standard and adopted the Petrodollar as a globalized economic strategy. We couldn’t just import everyone else’s gold and sell it back to them at a premium anymore.
Ironically we did spend a lot of time on that (I went to school in the eighties) and a lot of folks knew Reagan had really done us dirty. It was probably above my head.
Also, I went to a really good school.
He definitely kicked the county while it was down. But a big part of the US Golden Age was being the last economy standing after WW2.
The end of America’s economic dominance was inevitable, as old colonial powers re-industrialized and newly liberated post-colonial states gained control of their natural resources for domestic use.
By Nixon, American global dominance was sunsetting regardless of our domestic policies. That’s why we gave up the gold standard and adopted the Petrodollar as a globalized economic strategy. We couldn’t just import everyone else’s gold and sell it back to them at a premium anymore.