The poor economic performance of the 1970s brought an abrupt end to

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The poor economic performance of the 1970s led to the end of the liberal dream that affluent America could spend its way to social justice. The decade saw high inflation rates, an oil crisis, and increased government spending, which led to a stagnant economy and a decline in the standard of living for many Americans. As a result, the idea that government spending could solve social problems was discredited, leading to a shift towards a more conservative approach to economic policy.

The Poor Economic Performance of the 1970s Brought an Abrupt