1939: The Balance Sheet: Paradoxes and Imponderables -- Part 32
Literature about Europe from 1968 to 1989 is vast.
The Cold War, which began in the late 1940s and ended in the 1960s, was mostly abipolar and involved a series of sometimes dramatic confrontations between the United States and the Soviet Union.
The 1970s have generally been considered a decade of detente because of the German Chancellor's conciliatory initiatives.
Tensions between the United States and the Soviet Union worsened during the presidency of Jimmy Carter, and then worsened again when Ronald Reagan became president.
Both Carter and Reagan moved away from President Richard Nixon's amoral "realism," and exerted moralistic or Wilsonian pressures on Soviet leaders, especially over issues of human rights and the Soviet intervention in Afghanistan.
Reagan's initial hard line was softened in opposition to the advice of many of his advisers, to a willingness to compromise with Communist leaders.
The weakness of the Soviet side was more obvious to the American side when Gorbachev took over.
He instituted fundamental changes in the way the Soviet Union was ruled because he was willing to compromise.
His reforms were not enough to preserve Communist leadership of the Soviet Union.
It was published by John Wiley & Sons.
The formation of the European Union in 1991 and the expansion of it to include many countries of the former Soviet bloc made the European Communist world less dramatic.
The treatment of Soviet Jews became an issue in the late 1970s.
The Jewish Question in the Soviet Union became important at this point due to the fact that Communist rule was incompatible with the human rights and popular rule that were defined in the Helsinki Accords.
The Accords were used by dissidents to expose and humiliate Communist leaders in nearly all Communist-ruled countries.
The Soviet Union's intervention in Afghanistan in December 1979 to bolster a pro-Soviet regime became the Soviet Union's version of the American intervention in Vietnam.
The withdrawal of American athletes from the Moscow summer Olympics in 1980 was one of the most resented of which was taken by Carter, who retaliated by boycotting the summer 1984 Olympics in Los Angeles.
Carter had to aid the anti-Soviet forces in Afghanistan, but he initiated a massive expansion of the United States' military expenditure.
Reagan and his advisers calculated that the expenditures in Afghanistan would hurt the Soviet Union's economy.
The 1970s were the most troubled decade in the United States.
Nixon's first term as president was followed by a landslide victory in the elections of November 1972, but his second term ended with his impeachment and resignation in August 1974.
The Vietnam War ended in 1973.
Nixon's downfall and the scandals associated with his presidency caused a worldwide decline in American prestige.
After the failure of a daring military effort to rescue the hostages in Iran, Carter's presidency was marred by acrimony and national humiliation.
Even though the American economy was stronger than that of the Soviet Union, the Vietnam War affected it as well, and the "guns and butter" promised by President Lyndon Johnson simply could not be provided in equal measure.
The rapid economic growth of the postwar decades in Europe and the United States had begun to show fault lines by the late 1960s, but their economies were hit by the Arab-led oil embargo of 1973.
There was a strong link between the Jewish Question and major developments in Europe.
After the war of 1948, the Arab-Israeli conflict worsened.
The Six-Day War of 1967, launched by Egypt and Syria in order to regain control over the Sinai Peninsula and the Golan Heights, reflected the continued refusal of the leaders of virtually all.
Israel's ambitions to expand the borders established in 1948 remained unclear and the cause of increasing suspicion in following years, since the Israelis differed about how much they wanted to expand.
In 1973, the Arab states were unable to translate their huge population advantage into a military victory.
They had a potent weapon in their control of oil resources that they used to place an oil embargo on the United States to punish states that aided Israel in the war.
By the end of the 1970s, the price of oil was ten times that of 1973.
The implications were ominous: The price of a commodity essential to modern industrial production - and one that most European nations lacked - rose with a suddenness never before experienced, with a ripple effect on all economies that depended on OPEC oil.
The price of oil was accompanied by a new phenomenon and a new word: "stagflation."
Economic depression, with its declining or deflated prices, was thought to be opposite of the inflationary pressures that accompanied rapid economic growth.
State expenditures to "prime the pump" used to counter depression, but they now seem to increase inflation without remedying the depressed state of the economy.
For the rest of the century and into the next, Margaret Thatcher's program was a mixture of arcane economic issues and a new emphasis on market incentives.
The 1970s and 1980s have come to be seen as less economically burdensome than Europeans thought.
There was a decline in the annual rate of economic growth from 4.5 percent in the 1950s and 1960s to 2 percent in the 1970s and 1980s, but not an absolute decline.
The rate of growth did not decline as much as it did in the 1880s.
Europeans adjusted in different ways to the oil embargo.
New discoveries of oil fields in the North Sea helped to make Britain and Norway exporters of oil.
There were more positive economic developments.
Britain joined the Common Market in 1973.
Europe was a relatively prosperous area despite the slower growth of the 1970s and 1980s.
At the same time, Europe's economic relationship with the United States was changing in ways that would have been unimaginable at the end of World War II.
Competition between the United States and Common Market countries became a major concern for the United States in the early 1970s, as the United States was running a trade deficit of 10 billion dollars.
Europeans, at least those in the most advanced European economies, were beginning to enjoy greater material welfare than were the Americans.
Economic tensions between Europe and the United States were managed fairly, since both areas continued to recognize their common economic interests, shared values, and enemies.
Review flashcards and saved quizzes
Getting your flashcards
You're all caught up!
Looks like there aren't any notifications for you to check up on. Come back when you see a red dot on the bell!