Search results
Results From The WOW.Com Content Network
The early 1980s recession was a severe economic recession that affected much of the world between approximately the start of 1980 and 1982. [2] [1] [3] Long-term effects of the early 1980s recession contributed to the Latin American debt crisis, long-lasting slowdowns in the Caribbean and Sub-Saharan African countries, [3] the US savings and loan crisis, and a general adoption of neoliberal ...
The National Bureau of Economic Research considers two recessions to have occurred in the early 1980s. [7] The economy fell into recession from January 1980 to July 1980, shrinking at an 8 percent annual rate from April to June 1980. The economy then entered a quick period of growth, and in the first three months of 1981 grew at an 8.4 percent ...
John Maynard Keynes (right) and Harry Dexter White at the Bretton Woods Conference in 1944. The post-war displacement of Keynesianism was a series of events which from mostly unobserved beginnings in the late 1940s, had by the early 1980s led to the replacement of Keynesian economics as the leading theoretical influence on economic life in the developed world.
Governments prepared high quality economic statistics on an ongoing basis and tried to base their policies on the Keynesian theory that had become the norm. In the early era of social liberalism and social democracy, most western capitalist countries enjoyed low, stable unemployment and modest inflation, an era called the Golden Age of Capitalism.
By the 1980s new Keynesian economists became dissatisfied with these early nominal wage contract models [142] since they predicted that real wages would be countercyclical (real wages would rise when the economy fell), while empirical evidence showed that real wages tended to be independent of economic cycles or even slightly procyclical. [143]
Unlike other nations, moreover, for New Zealand the effects of the October 1987 crash spilled over into its real economy, contributing to a prolonged recession. [72] The effects of the worldwide economic boom of the mid-1980s had been amplified in New Zealand by the relaxation of foreign exchange controls and a wave of banking deregulation.
Europe’s economy avoided ending 2023 in a recession by the narrowest of margins, official data showed Tuesday.
Reagan gives a televised address from the Oval Office, outlining his plan for tax reductions in July 1981.. Reaganomics (/ r eɪ ɡ ə ˈ n ɒ m ɪ k s / ⓘ; a portmanteau of Reagan and economics attributed to Paul Harvey), [1] or Reaganism, were the neoliberal [2] [3] [4] economic policies promoted by U.S. President Ronald Reagan during the 1980s.