Recession in The United States
The early 1980s recession was a severe recession in the United States which began in July 1981 and ended in November 1982. The primary cause of the recession was a contractionary monetary policy established by the Federal Reserve System to control high inflation. In the wake of the 1973 oil crisis and the 1979 energy crisis, stagflation began to afflict the economy of the United States.
Read more about this topic: Early 1980s Recession
Famous quotes containing the words united states, united and/or states:
“Vanessa wanted to be a ballerina. Dad had such hopes for her.... Corin was the academically brilliant one, and a fencer of Olympic standard. Everything was expected of them, and they fulfilled all expectations. But I was the one of whom nothing was expected. I remember a game the three of us played. Vanessa was the President of the United States, Corin was the British Prime Minister—and I was the royal dog.”
—Lynn Redgrave (b. 1943)
“The United States is unusual among the industrial democracies in the rigidity of the system of ideological control—”indoctrination” we might say—exercised through the mass media.”
—Noam Chomsky (b. 1928)
“On the whole, the great success of marriage in the States is due partly to the fact that no American man is ever idle, and partly to the fact that no American wife is considered responsible for the quality of her husband’s dinners.”
—Oscar Wilde (1854–1900)