What factors were involved in the changes that took the American econo

What factors were involved in the changes that took the American economy of the affluent 1950s to the troubled economy of the 1980s? Be specific about both key political decisions and structural changes that reshaped the national economy.

What will be an ideal response?

ANSWER
The “wrenching changes” that altered the national economy included the cost of the Vietnam War, increased government spending on domestic programs, the oil crises of the 1970s, and the strengthening of foreign competition.