The 1970s was a time for major change worldwide. Many people did not want to take responsibility nor credit for the current economic crisis. Along with the struggling economy around the world, Senator Joseph McCarthy and President Harry S. Truman were sending letters and telegrams back and forth to each other about the situation of communists, and the spreading of communism. People during the 1970s needed to adapt to the changing economic situation, based on what was available, and what they needed. Products were limited, and demands were high. The 1970s culture and society was influenced by many different factors, such as these. During most of the 1970s, the problems that had occurred in the ‘60s, carried over and continued into the ‘70s. This was a time when Americans began to modernize their ideas what on “social norms” should be. Women began to protest until they got the equality that …show more content…
There was an energy shortage, due to an oil shortage, causing the prices of gas to continue to go up. Countries began to save as much oil as they could, in hopes that in the future, they would have enough to survive and prosper, once the shortage was over. Those counties began to rely on the Middle East, due to their abundant amount of oil that they had. The inflation made it even harder for the counties to survive, with high demands for supplies, but with little amounts that they could find. In the mid 1970s, the world went into a recession, that lasted from 1973-75. With the need to find a way to support themselves, counties began to industrialize, which caused The United States to have more competition than it ever had. North America and Europe began to reinvent themselves to become new and improved. This put America under a lot of pressure. With the steel crisis, this made the stock market crash even more