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In 1980, the American standard of living was the highest among the industrial countries, according to the OECD. Out of the 85 million households in the United States, 64% owned their own living quarters, 55% had at least two TV sets, and 51% had more than one vehicle.
The economic history of the United States spans the colonial era through the 21st century. The initial settlements depended on agriculture and hunting/trapping, later adding international trade, manufacturing, and finally, services, to the point where agriculture represented less than 2% of GDP .
1971 – In New York Times Co. v. United States, the Supreme Court rules that the Pentagon Papers may be published, rejecting government injunctions as unconstitutional prior restraint. 1972 – President Richard Nixon visits Mao Zedong in China, an astonishing step in formally normalizing relations between the United States and China.
The history of the United States from 1980 until 1991 includes the last year of the Jimmy Carter presidency, eight years of the Ronald Reagan administration, and the first three years of the George H. W. Bush presidency, up to the collapse of the Soviet Union.
The history of the United States from 1964 to 1980 includes the climax and end of the Civil Rights Movement; the escalation and ending of the Vietnam War; the drama of a generational revolt with its sexual freedoms and use of drugs; and the continuation of the Cold War, with its Space Race to put a man on the Moon.
The United States entered recession in January 1980 and returned to growth six months later in July 1980. [1] Although recovery took hold, the unemployment rate remained unchanged through the start of a second recession in July 1981. [2] The downturn ended 16 months later, in November 1982. [1]
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He compares wages and the standard of living in Pittsburgh with Birmingham, England. He finds that, after taking into account the cost of living (which was 65 percent higher in the US), the standard of living of unskilled workers was about the same in the two cities, while skilled workers had about twice as high a standard of living.