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1973–1975 recession - Wikipedia

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class="firstHeading mw-first-heading"><span class="mw-page-title-main">1973–1975 recession</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. 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class="interlanguage-link interwiki-da mw-list-item"><a href="https://da.wikipedia.org/wiki/V%C3%A6rftskrisen_(Sverige)" title="Værftskrisen (Sverige) – Danish" lang="da" hreflang="da" data-title="Værftskrisen (Sverige)" data-language-autonym="Dansk" data-language-local-name="Danish" class="interlanguage-link-target"><span>Dansk</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Werftenkrise" title="Werftenkrise – German" lang="de" hreflang="de" data-title="Werftenkrise" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Recesi%C3%B3n_de_1973-1975" title="Recesión de 1973-1975 – Spanish" lang="es" hreflang="es" data-title="Recesión de 1973-1975" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/R%C3%A9cession_de_1973-1975" title="Récession de 1973-1975 – French" lang="fr" hreflang="fr" data-title="Récession de 1973-1975" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/Verftskrisen" title="Verftskrisen – Norwegian Bokmål" lang="nb" hreflang="nb" data-title="Verftskrisen" data-language-autonym="Norsk bokmål" data-language-local-name="Norwegian Bokmål" class="interlanguage-link-target"><span>Norsk bokmål</span></a></li><li class="interlanguage-link interwiki-simple mw-list-item"><a href="https://simple.wikipedia.org/wiki/1973%E2%80%931975_recession" title="1973–1975 recession – Simple English" lang="en-simple" hreflang="en-simple" 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/></a><figcaption>US unemployment rate, 1969–1981</figcaption></figure> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Crude_oil_prices_since_1861.png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Crude_oil_prices_since_1861.png/330px-Crude_oil_prices_since_1861.png" decoding="async" width="330" height="216" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Crude_oil_prices_since_1861.png/495px-Crude_oil_prices_since_1861.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Crude_oil_prices_since_1861.png/660px-Crude_oil_prices_since_1861.png 2x" data-file-width="1764" data-file-height="1155" /></a><figcaption>Oil prices in USD, 1861–2015 (1861–1944 averaged US crude oil, 1945–1983 Arabian Light, 1984–2015 Brent). Red line adjusted for inflation, blue not adjusted.</figcaption></figure> <figure class="mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:1973-75_recession.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/a/a1/1973-75_recession.jpg/300px-1973-75_recession.jpg" decoding="async" width="300" height="181" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/a/a1/1973-75_recession.jpg/450px-1973-75_recession.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/a/a1/1973-75_recession.jpg 2x" data-file-width="484" data-file-height="292" /></a><figcaption>In the parlance of <a href="/wiki/Recession_shapes" title="Recession shapes">recession shapes</a>, the Recession of 1973–75 in the United States could be considered a <a href="/wiki/U-shaped_recession" class="mw-redirect" title="U-shaped recession">U-shaped recession</a>, because of its prolonged period of weak growth and contraction.<sup id="cite_ref-TBM_1-0" class="reference"><a href="#cite_note-TBM-1"><span class="cite-bracket">&#91;</span>1<span class="cite-bracket">&#93;</span></a></sup><br /><style data-mw-deduplicate="TemplateStyles:r981673959">.mw-parser-output .legend{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .legend-color{display:inline-block;min-width:1.25em;height:1.25em;line-height:1.25;margin:1px 0;text-align:center;border:1px solid black;background-color:transparent;color:black}.mw-parser-output .legend-text{}</style><div class="legend"><span class="legend-color mw-no-invert" style="border: 1px solid #aaa;background-color:#4682B4; color:black;">&#160;</span>&#160;Percent change from preceding period in real gross domestic product (annualized; seasonally adjusted)</div><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r981673959"><div class="legend"><span class="legend-color mw-no-invert" style="border: 1px solid #aaa;background-color:#800000; color:white;">&#160;</span>&#160;Average GDP growth 1947–2009</div>Source: <a href="/wiki/Bureau_of_Economic_Analysis" title="Bureau of Economic Analysis">Bureau of Economic Analysis</a></figcaption></figure> <p>The <b>1973–1975 recession</b> or <b>1970s recession</b> was a period of economic stagnation in much of the <a href="/wiki/Western_world" title="Western world">Western world</a> during the 1970s, putting an end to the overall <a href="/wiki/Post%E2%80%93World_War_II_economic_expansion" title="Post–World War II economic expansion">post–World War II economic expansion</a>. It differed from many previous recessions by involving <a href="/wiki/Stagflation" title="Stagflation">stagflation</a>, in which high <a href="/wiki/Unemployment" title="Unemployment">unemployment</a> and high <a href="/wiki/Inflation" title="Inflation">inflation</a> existed simultaneously. </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="United_States">United States</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=1973%E2%80%931975_recession&amp;action=edit&amp;section=1" title="Edit section: United States"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Among the causes were the <a href="/wiki/1973_oil_crisis" title="1973 oil crisis">1973 oil crisis</a>, the deficits of the <a href="/wiki/Vietnam_War" title="Vietnam War">Vietnam War</a> under <a href="/wiki/Lyndon_B._Johnson" title="Lyndon B. Johnson">President Johnson</a>, and the fall of the <a href="/wiki/Bretton_Woods_system" title="Bretton Woods system">Bretton Woods system</a> after the <a href="/wiki/Nixon_shock" title="Nixon shock">Nixon shock</a>.<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">&#91;</span>2<span class="cite-bracket">&#93;</span></a></sup> The emergence of <a href="/wiki/Newly_industrialized_countries" class="mw-redirect" title="Newly industrialized countries">newly industrialized countries</a> increased competition in the metal industry, triggering a <a href="/wiki/Steel_crisis" title="Steel crisis">steel crisis</a>, where industrial core areas in North America and Europe were forced to re-structure.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">&#91;<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (January 2010)">citation needed</span></a></i>&#93;</sup> The <a href="/wiki/1973%E2%80%9374_stock_market_crash" class="mw-redirect" title="1973–74 stock market crash">1973–74 stock market crash</a> made the recession evident. </p><p>The recession in the United States lasted from November 1973 (the <a href="/wiki/Richard_Nixon" title="Richard Nixon">Richard Nixon</a> presidency) to March 1975 (the <a href="/wiki/Gerald_Ford" title="Gerald Ford">Gerald Ford</a> presidency),<sup id="cite_ref-NBER_3-0" class="reference"><a href="#cite_note-NBER-3"><span class="cite-bracket">&#91;</span>3<span class="cite-bracket">&#93;</span></a></sup> and its effects on the US were felt through the <a href="/wiki/Jimmy_Carter" title="Jimmy Carter">Jimmy Carter</a> presidency until the mid-term of <a href="/wiki/Ronald_Reagan" title="Ronald Reagan">Ronald Reagan</a>'s first term as president, characterized by low economic growth. Although the economy was expanding from 1975 to the <a href="/wiki/Early_1980s_recession" title="Early 1980s recession">first recession of the early 1980s</a>, which began in January 1980, inflation remained extremely high until the early 1980s. </p><p>The U.S. Bureau of Labor Statistics estimates that 2.3 million jobs were lost during the recession; at the time, this was a post-war record.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">&#91;</span>4<span class="cite-bracket">&#93;</span></a></sup> </p><p>Although the recession ended in March 1975, the unemployment rate did not peak for several months. In May 1975, the rate reached its height for the cycle of 9 percent.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">&#91;</span>5<span class="cite-bracket">&#93;</span></a></sup> (Four cycles have had higher peaks than this: the <a href="/wiki/Late_2000s_recession" class="mw-redirect" title="Late 2000s recession">late 2000s recession</a>, where the unemployment rate peaked at 10 percent in October 2009 in the United States;<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">&#91;</span>6<span class="cite-bracket">&#93;</span></a></sup> the <a href="/wiki/Early_1980s_recession" title="Early 1980s recession">early 1980s recession</a> where unemployment peaked at 10.8% in November and December 1982; the <a href="/wiki/Great_Depression" title="Great Depression">Great Depression</a>, where unemployment peaked at 25% in 1933; and the <a href="/wiki/COVID-19_recession#United_States" title="COVID-19 recession">COVID-19 recession</a> where unemployment peaked at 14.7% in 2020.) </p> <div class="mw-heading mw-heading2"><h2 id="United_Kingdom">United Kingdom</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=1973%E2%80%931975_recession&amp;action=edit&amp;section=2" title="Edit section: United Kingdom"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist li{margin:0;display:inline}.mw-parser-output .hlist.inline,.mw-parser-output .hlist.inline dl,.mw-parser-output .hlist.inline ol,.mw-parser-output .hlist.inline ul,.mw-parser-output .hlist dl dl,.mw-parser-output .hlist dl ol,.mw-parser-output .hlist dl ul,.mw-parser-output .hlist ol dl,.mw-parser-output .hlist ol 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screen{html.skin-theme-clientpref-night .mw-parser-output div:not(.notheme)>.tmp-color,html.skin-theme-clientpref-night .mw-parser-output p>.tmp-color,html.skin-theme-clientpref-night .mw-parser-output table:not(.notheme) .tmp-color{color:inherit!important}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output div:not(.notheme)>.tmp-color,html.skin-theme-clientpref-os .mw-parser-output p>.tmp-color,html.skin-theme-clientpref-os .mw-parser-output table:not(.notheme) .tmp-color{color:inherit!important}}</style><table class="sidebar nomobile nowraplinks sidebar-person vcard hlist" style="border-color: darkgrey"><tbody><tr><th class="sidebar-title"><table><tbody><tr> <td class="sidebar-person-title-image" style="background-color:#E4003B;color:inherit;"><span class="mw-image-border" typeof="mw:File"><a href="/wiki/File:Premier_Wilson_gaf_persconferentie_na_bespreking_in_Den_Haag_,_Wilson_(kop),_Bestanddeelnr_920-1165_(cropped).jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b2/Premier_Wilson_gaf_persconferentie_na_bespreking_in_Den_Haag_%2C_Wilson_%28kop%29%2C_Bestanddeelnr_920-1165_%28cropped%29.jpg/75px-Premier_Wilson_gaf_persconferentie_na_bespreking_in_Den_Haag_%2C_Wilson_%28kop%29%2C_Bestanddeelnr_920-1165_%28cropped%29.jpg" decoding="async" width="75" height="100" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b2/Premier_Wilson_gaf_persconferentie_na_bespreking_in_Den_Haag_%2C_Wilson_%28kop%29%2C_Bestanddeelnr_920-1165_%28cropped%29.jpg/113px-Premier_Wilson_gaf_persconferentie_na_bespreking_in_Den_Haag_%2C_Wilson_%28kop%29%2C_Bestanddeelnr_920-1165_%28cropped%29.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b2/Premier_Wilson_gaf_persconferentie_na_bespreking_in_Den_Haag_%2C_Wilson_%28kop%29%2C_Bestanddeelnr_920-1165_%28cropped%29.jpg/150px-Premier_Wilson_gaf_persconferentie_na_bespreking_in_Den_Haag_%2C_Wilson_%28kop%29%2C_Bestanddeelnr_920-1165_%28cropped%29.jpg 2x" data-file-width="1927" data-file-height="2566" /></a></span></td> <td class="sidebar-person-title" style="background-color:#E4003B;color: #FFF;"><div><span class="tmp-color" style="color: #FFF">This article is part of <br />a series about</span></div><span class="vcard"><span class="fn"><a href="/wiki/Harold_Wilson" title="Harold Wilson"><span class="tmpl-colored-link" style="color: #FFF; text-decoration: inherit;">Harold Wilson</span></a></span></span></td> </tr></tbody></table></th></tr><tr><td class="sidebar-content"> <ul><li><a href="/wiki/Labour_Party_(UK)" title="Labour Party (UK)">Labour Party</a></li> <li><a href="/wiki/Huyton_(UK_Parliament_constituency)" title="Huyton (UK Parliament constituency)">MP for Huyton</a></li></ul> <hr /> <div style="font-weight: bold;line-height:normal;">Pre-Prime Minister</div> <ul><li><a href="/wiki/1960_Labour_Party_leadership_election" title="1960 Labour Party leadership election">1960 leadership election</a></li> <li><a href="/wiki/1963_Labour_Party_leadership_election_(UK)" title="1963 Labour Party leadership election (UK)">1963 leadership election</a></li> <li><a href="/wiki/1964_United_Kingdom_general_election" title="1964 United Kingdom general election">1964 general election</a></li></ul> <hr /> <div style="font-weight: bold;line-height:normal;">Prime Minister of the United Kingdom</div> <hr /> <div style="font-weight: bold;line-height:normal;">First term</div> <ul><li><a href="/wiki/Labour_government,_1964%E2%80%931970#List_of_ministers" title="Labour government, 1964–1970">Cabinet</a></li> <li><a href="/wiki/Circular_10/65" title="Circular 10/65">Circular 10/65</a></li> <li><a href="/wiki/Capital_gains_tax#United_Kingdom" title="Capital gains tax">Capital gains tax</a></li> <li><a href="/wiki/Murder_(Abolition_of_Death_Penalty)_Act_1965" title="Murder (Abolition of Death Penalty) Act 1965">Abolition of death penalty</a></li> <li><a href="/wiki/Decimal_Day#Background" title="Decimal Day">Decimalisation announcement</a></li> <li><a href="/wiki/1966_United_Kingdom_general_election" title="1966 United Kingdom general election">1966 general election</a></li></ul> <hr /> <div style="font-weight: bold;line-height:normal;">Second term</div> <ul><li><a href="/wiki/Labour_government,_1964%E2%80%931970#List_of_ministers" title="Labour government, 1964–1970">Cabinet</a></li> <li><a href="/wiki/Sexual_Offences_Act_1967" title="Sexual Offences Act 1967">Decriminalisation of homosexuality</a></li> <li><a href="/wiki/Abortion_Act_1967" title="Abortion Act 1967">Abortion Act 1967</a></li> <li><a href="/wiki/Race_Relations_Act_1968" title="Race Relations Act 1968">Race Relations Act 1968</a></li> <li><a href="/wiki/Open_University#History" title="Open University">Open University</a></li> <li><a href="/wiki/Divorce_Reform_Act_1969" title="Divorce Reform Act 1969">Divorce Reform Act 1969</a></li> <li><a href="/wiki/Operation_Banner" title="Operation Banner">Operation Banner</a></li> <li><a href="/wiki/1970_United_Kingdom_general_election" title="1970 United Kingdom general election">1970 general election</a></li></ul> <hr /> <div style="font-weight: bold;line-height:normal;">Third and fourth terms</div> <ul><li><a href="/wiki/February_1974_United_Kingdom_general_election" title="February 1974 United Kingdom general election">February 1974 general election</a></li> <li><a href="/wiki/Labour_government,_1974%E2%80%931979#Wilson_ministry" title="Labour government, 1974–1979">Cabinet</a></li> <li><a class="mw-selflink selflink">1973–1975 recession</a></li> <li><a href="/wiki/October_1974_United_Kingdom_general_election" title="October 1974 United Kingdom general election">October 1974 general election</a></li> <li><a href="/wiki/1976_sterling_crisis" title="1976 sterling crisis">1976 sterling crisis</a></li></ul> <hr /> <p><span typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/59/Royal_Coat_of_Arms_of_the_United_Kingdom_%28HM_Government%29_%28St_Edwards_Crown%29.svg/50px-Royal_Coat_of_Arms_of_the_United_Kingdom_%28HM_Government%29_%28St_Edwards_Crown%29.svg.png" decoding="async" width="50" height="41" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/59/Royal_Coat_of_Arms_of_the_United_Kingdom_%28HM_Government%29_%28St_Edwards_Crown%29.svg/75px-Royal_Coat_of_Arms_of_the_United_Kingdom_%28HM_Government%29_%28St_Edwards_Crown%29.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/59/Royal_Coat_of_Arms_of_the_United_Kingdom_%28HM_Government%29_%28St_Edwards_Crown%29.svg/100px-Royal_Coat_of_Arms_of_the_United_Kingdom_%28HM_Government%29_%28St_Edwards_Crown%29.svg.png 2x" data-file-width="1530" data-file-height="1256" /></span></span> </p> <span typeof="mw:File"><a href="/wiki/File:Arms_of_Harold_Wilson.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/5/5d/Arms_of_Harold_Wilson.svg/30px-Arms_of_Harold_Wilson.svg.png" decoding="async" width="30" height="36" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/5d/Arms_of_Harold_Wilson.svg/45px-Arms_of_Harold_Wilson.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/5d/Arms_of_Harold_Wilson.svg/60px-Arms_of_Harold_Wilson.svg.png 2x" data-file-width="512" data-file-height="617" /></a></span></td> </tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Harold_Wilson_sidebar" title="Template:Harold Wilson sidebar"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/w/index.php?title=Template_talk:Harold_Wilson_sidebar&amp;action=edit&amp;redlink=1" class="new" title="Template talk:Harold Wilson sidebar (page does not exist)"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Harold_Wilson_sidebar" title="Special:EditPage/Template:Harold Wilson sidebar"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p>The recession also lasted from 1973 to 1975 in the <a href="/wiki/United_Kingdom" title="United Kingdom">United Kingdom</a>. GDP declined by 3.9% depending on the source. It took 14 quarters for the UK's GDP to recover to that at the start of recession. </p><p>The oil crisis was largely to blame for the downturn in the United Kingdom, just as it was in the US, although an additional crisis came in the form of the <a href="/wiki/Three-Day_Week" title="Three-Day Week">Three-Day Week</a>, which was the result of fears over power shortages as a miner's strike was announced in December 1973. The three-day week was a state of emergency imposed by <a href="/wiki/Conservative_Party_(UK)" title="Conservative Party (UK)">Conservative</a> prime minister <a href="/wiki/Edward_Heath" title="Edward Heath">Edward Heath</a>, which came into force on 1 January 1974, meaning that commercial users of electricity were limited to three specific consecutive days' consumption of electricity, and forbidden to work longer hours of those days, although services deemed essential were exempted from these regulations. Electricity blackouts across the country were widespread. </p> <figure class="mw-default-size mw-halign-left" typeof="mw:File/Thumb"><a href="/wiki/File:Uk_inflation_history.webp" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/7/73/Uk_inflation_history.webp/220px-Uk_inflation_history.webp.png" decoding="async" width="220" height="76" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/73/Uk_inflation_history.webp/330px-Uk_inflation_history.webp.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/7/73/Uk_inflation_history.webp/440px-Uk_inflation_history.webp.png 2x" data-file-width="3394" data-file-height="1169" /></a><figcaption>Uk inflation history</figcaption></figure> <p>There was also double-digit inflation during this period, which peaked at more than 20%.<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">&#91;</span>7<span class="cite-bracket">&#93;</span></a></sup> </p><p>Edward Heath's offer of a 13% pay rise was rejected by the miners, and he then responded by calling a <a href="/wiki/February_1974_United_Kingdom_general_election" title="February 1974 United Kingdom general election">snap election</a> on 28 February 1974 in what he saw as an opportunity for the electorate to show the miners that the government – and not the miners or the unions – were responsible for running the country. Most opinion polls suggested that the Tories would be re-elected with a majority, but when the election results came through on the morning of 1 March 1974, no party had an overall majority. The gap between Ted Heath's Tory government and the <a href="/wiki/Labour_Party_(UK)" title="Labour Party (UK)">Labour</a> opposition led by <a href="/wiki/Harold_Wilson" title="Harold Wilson">Harold Wilson</a> (who had been prime minister for nearly six years until his surprise defeat by Heath's Tories in the <a href="/wiki/1970_United_Kingdom_general_election" title="1970 United Kingdom general election">1970 election</a>) was so narrow that the Tories received the most votes but Labour won slightly more seats. </p><p>Heath fought to keep the Tories in government by attempting to form a coalition with the <a href="/wiki/Liberal_Party_(UK)" title="Liberal Party (UK)">Liberal Party</a> and offering a cabinet post to Liberal leader <a href="/wiki/Jeremy_Thorpe" title="Jeremy Thorpe">Jeremy Thorpe</a>, but this attempt to remain in power proved unsuccessful for Heath and he was forced to resign as prime minister on 4 March, paving the way for Harold Wilson's Labour to return to power as a minority government<sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">&#91;</span>8<span class="cite-bracket">&#93;</span></a></sup> before winning a <a href="/wiki/October_1974_United_Kingdom_general_election" title="October 1974 United Kingdom general election">second election</a> on 10 October by a majority of just three seats.<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">&#91;</span>9<span class="cite-bracket">&#93;</span></a></sup> </p><p>Economic growth was re-established in 1975 as the recession's end was declared, but Britain's economy remained shaky. Inflation remained high, strikes continued to cripple manufacturing and public services, unemployment continued to rise above the 1,000,000 mark, and just after the resignation of Harold Wilson as prime minister in March 1976, his successor <a href="/wiki/James_Callaghan" title="James Callaghan">James Callaghan</a> was forced to call on the <a href="/wiki/International_Monetary_Fund" title="International Monetary Fund">International Monetary Fund</a> for a multibillion-pound bail-out in an attempt to bolster Britain's flagging economy. </p><p>The Labour government's tiny majority was wiped out by early 1977 as a result of by-election defeats, and Callaghan managed to form a <a href="/wiki/Lib%E2%80%93Lab_pact" title="Lib–Lab pact">coalition</a> with the Liberals to hang onto power. The pact concluded in the summer of 1978, by which time economic growth had picked up (although unemployment now stood at a postwar high of 1,500,000), and opinion polls suggested that Labour could form a majority government if a general election was held. However, Callaghan ruled out an election in September 1978, and within weeks a series of strikes began which would spark the <a href="/wiki/Winter_of_Discontent" title="Winter of Discontent">Winter of Discontent</a>. In March 1979, <a href="/wiki/1979_vote_of_no_confidence_in_the_Callaghan_ministry" title="1979 vote of no confidence in the Callaghan ministry">a vote of no confidence</a> issued by Tory opposition leader <a href="/wiki/Margaret_Thatcher" title="Margaret Thatcher">Margaret Thatcher</a> sparked the collapse of the Labour government and in the <a href="/wiki/1979_United_Kingdom_general_election" title="1979 United Kingdom general election">election</a> in May that year, the Tories returned to power.<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">&#91;</span>10<span class="cite-bracket">&#93;</span></a></sup> </p><p>In the first year of the Thatcher-led Tory government inflation rose to 15.3%, but then fell to 5% by the time of their <a href="/wiki/1983_United_Kingdom_general_election" title="1983 United Kingdom general election">election win</a> in 1983.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">&#91;</span>11<span class="cite-bracket">&#93;</span></a></sup> However, the <a href="/wiki/Monetarist" class="mw-redirect" title="Monetarist">monetarist</a> policies designed to curb inflation caused <a href="/wiki/Early_1980s_recession" title="Early 1980s recession">a recession in 1980</a> and resulted in a steep rise in unemployment from 5.4% (1,390,46 people) to 11.5% (3,104,66 people).<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">&#91;</span>12<span class="cite-bracket">&#93;</span></a></sup> It was not until 2000, by which time Labour had been re-elected as <a href="/wiki/New_Labour" title="New Labour">New Labour</a> under <a href="/wiki/Tony_Blair" title="Tony Blair">Tony Blair</a> that unemployment fell to the level in 1979.<sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">&#91;</span>13<span class="cite-bracket">&#93;</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Rest_of_the_world">Rest of the world</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=1973%E2%80%931975_recession&amp;action=edit&amp;section=3" title="Edit section: Rest of the world"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The oil crisis of 1973 also had similarly large negative effects on other countries that relied heavily on imported oil, such as France, Sweden, Japan, Finland, Belgium, Luxembourg, and Denmark. </p><p>In Sweden's particular case, the recession proved devastating to the shipping, ship-building, and logging and mining industries. The increase in oil prices caused export revenues from shipping to drop by 25% within a few years. Sweden at this time had the world's second largest ship building industry (after Japan), and the spillover effects devastated shipbuilders (Swedish shipbuilders lost some 3 billion SEK in 1974), which in turn led to problems in Sweden's steel industry. The loss of shipbuilding jobs devastated port cities such as <a href="/wiki/Malm%C3%B6" title="Malmö">Malmö</a>, home to <a href="/wiki/Kockums" class="mw-redirect" title="Kockums">Kockums</a>' shipyard, which would struggle for the next 20 years. Furthermore, the ripple effects also compounded issues in the iron ore mining industry, at a time when Swedish iron ore was experiencing rising mining costs and facing increased low-cost competition from new mines in places such as Australia and Brazil.<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">&#91;</span>14<span class="cite-bracket">&#93;</span></a></sup> The inflationary recession, combined with an expansionary government fiscal policy and a generous collective wage agreement among unions in 1974–1976, put Sweden on a highly inflationary path: the price index quintupled between 1972 and 1995.<sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">&#91;</span>15<span class="cite-bracket">&#93;</span></a></sup> Between 1965 and 1979, the <a href="/wiki/Public_sector" title="Public sector">public sector</a>'s share of total employment rose from 12% to 30%, which greatly increased the total tax burden at a time of escalating costs and prices, which fed into wage settlements, competitiveness, and profitability, and contributed to a sharply deteriorated trade balance.<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">&#91;</span>16<span class="cite-bracket">&#93;</span></a></sup> </p><p>Some newly industrialized countries saw some diversionary benefits from the crisis, namely Spain, Korea, Taiwan, Singapore, Mexico, and Brazil, as their low-cost environments attracted new investments and gave their products a competitive edge over competitors in higher-cost, developed countries suffering from higher energy costs. These countries gained increased market share both in their domestic markets and abroad at accelerating rates during the 1970s. </p> <div class="mw-heading mw-heading2"><h2 id="Economic_recovery">Economic recovery</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=1973%E2%80%931975_recession&amp;action=edit&amp;section=4" title="Edit section: Economic recovery"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In the <a href="/wiki/United_States" title="United States">United States</a>, the <a href="/wiki/Economic_recovery" title="Economic recovery">economic recovery</a> from the 1973 to 1975 recession had many of the characteristics of a typical U-type recovery. GNP (the measure at the time) reached and exceeded its pre-recession level by first quarter 1976. Industrial production had recovered to its pre-recession levels by the end of 1976.<sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">&#91;</span>17<span class="cite-bracket">&#93;</span></a></sup> </p><p>The major influence of the experience of the 1974 recession came in the form of the concept of <a href="/wiki/Stagflation" title="Stagflation">stagflation</a>, that is, inflation during a period of recession. The <a href="/wiki/Federal_Reserve" title="Federal Reserve">Federal Reserve</a> adjusted its mandate as a result, believing that the inflation-unemployment <a href="/wiki/Tradeoff" class="mw-redirect" title="Tradeoff">tradeoff</a> was much higher than previously thought, and established a 6% target as full employment. Thus, unemployment, which had reached a peak of 9% in May 1975, did not dip below 6% until June 1978. The pre-1974 recession level of 4.6% unemployment was not reached again until November 1997, when the Federal Reserve deviated from its prior policy.<sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">&#91;</span>18<span class="cite-bracket">&#93;</span></a></sup><sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">&#91;</span>19<span class="cite-bracket">&#93;</span></a></sup> </p><p>The interpretation regarding the cause of stagflation was and continues to be controversial.<sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">&#91;</span>20<span class="cite-bracket">&#93;</span></a></sup> The <a href="/wiki/Oil_embargo" title="Oil embargo">oil embargo</a> of 1973–1974, which pushed prices of petroleum from $15 to $45 a barrel (2010 dollars) almost overnight, certainly contributed to inflationary measures during this period, taking a larger share of incomes (an "oil tax") at a time of falling <a href="/wiki/Consumer_spending" title="Consumer spending">consumer spending</a>.<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">&#91;</span>21<span class="cite-bracket">&#93;</span></a></sup> The price of <a href="/wiki/Petroleum_products" class="mw-redirect" title="Petroleum products">petroleum products</a> continued to rise throughout the decade, reaching a peak of about $73 a barrel (2010 dollars) in 1979 as a result of the <a href="/wiki/Iranian_revolution" title="Iranian revolution">Iranian revolution</a>, a price not exceeded until 2008 in the wake of dislocations due to the war in Iraq.<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">&#91;</span>22<span class="cite-bracket">&#93;</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=1973%E2%80%931975_recession&amp;action=edit&amp;section=5" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/1970s_energy_crisis" title="1970s energy crisis">1970s energy crisis</a></li> <li><a href="/wiki/List_of_recessions_in_the_United_States" title="List of recessions in the United States">List of recessions in the United States</a></li> <li><a href="/wiki/List_of_recessions_in_the_United_Kingdom" title="List of recessions in the United Kingdom">List of recessions in the United Kingdom</a></li> <li><a href="/wiki/Phillips_curve" title="Phillips curve">Phillips curve</a></li> <li><a href="/wiki/Steel_crisis" title="Steel crisis">Steel crisis</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=1973%E2%80%931975_recession&amp;action=edit&amp;section=6" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist reflist-columns references-column-width" style="column-width: 30em;"> <ol class="references"> <li id="cite_note-TBM-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-TBM_1-0">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFMartha_C._White2009" class="citation news cs1">Martha C. 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Retrieved <span class="nowrap">15 October</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=unknown&amp;rft.jtitle=Bureau+of+Labor+Statistics&amp;rft.atitle=Unemployment+continued+to+rise+in+1982+as+the+recession+deepened&amp;rft_id=https%3A%2F%2Fstats.bls.gov%2Fopub%2Fmlr%2F1983%2F02%2Fart1full.pdf&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973%E2%80%931975+recession" class="Z3988"></span></span> </li> <li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://www.bls.gov/cps/">Labor Force Statistics from the Current Population Survey</a>, <a href="/wiki/Bureau_of_Labor_Statistics" title="Bureau of Labor Statistics">Bureau of Labor Statistics</a>. Retrieved on 19 September 2009</span> </li> <li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.bls.gov/spotlight/2012/recession/pdf/recession_bls_spotlight.pdf">"The Recession of 2007–2009"</a> <span class="cs1-format">(PDF)</span>. Bureau of Labor Statistics<span class="reference-accessdate">. Retrieved <span class="nowrap">27 September</span> 2012</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=The+Recession+of+2007%E2%80%932009&amp;rft.pub=Bureau+of+Labor+Statistics&amp;rft_id=http%3A%2F%2Fwww.bls.gov%2Fspotlight%2F2012%2Frecession%2Fpdf%2Frecession_bls_spotlight.pdf&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973%E2%80%931975+recession" class="Z3988"></span></span> </li> <li id="cite_note-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-7">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFStevenson2012" class="citation news cs1">Stevenson, Tom (11 February 2012). <a rel="nofollow" class="external text" href="https://www.telegraph.co.uk/finance/comment/tom-stevenson/9076261/Lessons-to-be-learnt-from-rampant-inflation-of-the-70s.html">"Lessons to be learnt from rampant inflation of the 70s"</a>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.atitle=Lessons+to+be+learnt+from+rampant+inflation+of+the+70s&amp;rft.date=2012-02-11&amp;rft.aulast=Stevenson&amp;rft.aufirst=Tom&amp;rft_id=https%3A%2F%2Fwww.telegraph.co.uk%2Ffinance%2Fcomment%2Ftom-stevenson%2F9076261%2FLessons-to-be-learnt-from-rampant-inflation-of-the-70s.html&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973%E2%80%931975+recession" class="Z3988"></span></span> </li> <li id="cite_note-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-8">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="http://news.bbc.co.uk/1/hi/uk_politics/vote_2005/basics/4393301.stm">"1974 Feb: Hung parliament looms"</a>. <i>BBC News</i>. 5 April 2005.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=BBC+News&amp;rft.atitle=1974+Feb%3A+Hung+parliament+looms&amp;rft.date=2005-04-05&amp;rft_id=http%3A%2F%2Fnews.bbc.co.uk%2F1%2Fhi%2Fuk_politics%2Fvote_2005%2Fbasics%2F4393301.stm&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973%E2%80%931975+recession" class="Z3988"></span></span> </li> <li id="cite_note-9"><span class="mw-cite-backlink"><b><a href="#cite_ref-9">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="http://news.bbc.co.uk/1/hi/uk_politics/vote_2005/basics/4393307.stm">"1974 Oct: Wilson makes it four"</a>. <i>BBC News</i>. 5 April 2005.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=BBC+News&amp;rft.atitle=1974+Oct%3A+Wilson+makes+it+four&amp;rft.date=2005-04-05&amp;rft_id=http%3A%2F%2Fnews.bbc.co.uk%2F1%2Fhi%2Fuk_politics%2Fvote_2005%2Fbasics%2F4393307.stm&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973%E2%80%931975+recession" class="Z3988"></span></span> </li> <li id="cite_note-10"><span class="mw-cite-backlink"><b><a href="#cite_ref-10">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="http://news.bbc.co.uk/1/hi/uk_politics/vote_2005/basics/4393311.stm">"1979: Thatcher wins Tory landslide"</a>. <i>BBC News</i>. 5 April 2005.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=BBC+News&amp;rft.atitle=1979%3A+Thatcher+wins+Tory+landslide&amp;rft.date=2005-04-05&amp;rft_id=http%3A%2F%2Fnews.bbc.co.uk%2F1%2Fhi%2Fuk_politics%2Fvote_2005%2Fbasics%2F4393311.stm&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973%E2%80%931975+recession" class="Z3988"></span></span> </li> <li id="cite_note-11"><span class="mw-cite-backlink"><b><a href="#cite_ref-11">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.ons.gov.uk/economy/economicoutputandproductivity/output/articles/changesintheeconomysincethe1970s/2019-09-02">"Changes in the economy since the 1970s – Office for National Statistics"</a>. <i>www.ons.gov.uk</i><span class="reference-accessdate">. Retrieved <span class="nowrap">30 December</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=unknown&amp;rft.jtitle=www.ons.gov.uk&amp;rft.atitle=Changes+in+the+economy+since+the+1970s+%E2%80%93+Office+for+National+Statistics&amp;rft_id=https%3A%2F%2Fwww.ons.gov.uk%2Feconomy%2Feconomicoutputandproductivity%2Foutput%2Farticles%2Fchangesintheeconomysincethe1970s%2F2019-09-02&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973%E2%80%931975+recession" class="Z3988"></span></span> </li> <li id="cite_note-12"><span class="mw-cite-backlink"><b><a href="#cite_ref-12">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.oecd-ilibrary.org/employment/data/labour-market-statistics/labour-market-statistics-unemployment-by-duration-edition-2015_bf3ddb8a-en">"Labour Market Statistics: Unemployment by Duration (Edition 2015)"</a>. OECD Employment and Labour Market Statistics (database). 22 October 2012. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1787%2Fbf3ddb8a-en">10.1787/bf3ddb8a-en</a>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=Labour+Market+Statistics%3A+Unemployment+by+Duration+%28Edition+2015%29&amp;rft.pub=OECD+Employment+and+Labour+Market+Statistics+%28database%29&amp;rft.date=2012-10-22&amp;rft_id=info%3Adoi%2F10.1787%2Fbf3ddb8a-en&amp;rft_id=https%3A%2F%2Fwww.oecd-ilibrary.org%2Femployment%2Fdata%2Flabour-market-statistics%2Flabour-market-statistics-unemployment-by-duration-edition-2015_bf3ddb8a-en&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973%E2%80%931975+recession" class="Z3988"></span></span> </li> <li id="cite_note-13"><span class="mw-cite-backlink"><b><a href="#cite_ref-13">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.ons.gov.uk/economy/economicoutputandproductivity/output/articles/changesintheeconomysincethe1970s/2019-09-02">"Changes in the economy since the 1970s – Office for National Statistics"</a>. <i>www.ons.gov.uk</i><span class="reference-accessdate">. Retrieved <span class="nowrap">30 December</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=unknown&amp;rft.jtitle=www.ons.gov.uk&amp;rft.atitle=Changes+in+the+economy+since+the+1970s+%E2%80%93+Office+for+National+Statistics&amp;rft_id=https%3A%2F%2Fwww.ons.gov.uk%2Feconomy%2Feconomicoutputandproductivity%2Foutput%2Farticles%2Fchangesintheeconomysincethe1970s%2F2019-09-02&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973%E2%80%931975+recession" class="Z3988"></span></span> </li> <li id="cite_note-14"><span class="mw-cite-backlink"><b><a href="#cite_ref-14">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHorváth1982" class="citation book cs1">Horváth, Dezsö (1982). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=U7uRY3FvdC4C&amp;q=manufacturing+decline+1982&amp;pg=PA30"><i>Small Economies in the World Economy: The Case of Sweden</i></a>. Institute for Research on Public Policy. p.&#160;34. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a>&#160;<a href="/wiki/Special:BookSources/9780886450632" title="Special:BookSources/9780886450632"><bdi>9780886450632</bdi></a><span class="reference-accessdate">. Retrieved <span class="nowrap">12 March</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=Small+Economies+in+the+World+Economy%3A+The+Case+of+Sweden&amp;rft.pages=34&amp;rft.pub=Institute+for+Research+on+Public+Policy&amp;rft.date=1982&amp;rft.isbn=9780886450632&amp;rft.aulast=Horv%C3%A1th&amp;rft.aufirst=Dezs%C3%B6&amp;rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DU7uRY3FvdC4C%26q%3Dmanufacturing%2Bdecline%2B1982%26pg%3DPA30&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973%E2%80%931975+recession" class="Z3988"></span></span> </li> <li id="cite_note-15"><span class="mw-cite-backlink"><b><a href="#cite_ref-15">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://fred.stlouisfed.org/series/SWECPIALLQINMEI">"Consumer Price Index: Sweden"</a>. Federal Reserve Bank of St. Louis. January 1955<span class="reference-accessdate">. Retrieved <span class="nowrap">12 March</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=Consumer+Price+Index%3A+Sweden&amp;rft.pub=Federal+Reserve+Bank+of+St.+Louis&amp;rft.date=1955-01&amp;rft_id=https%3A%2F%2Ffred.stlouisfed.org%2Fseries%2FSWECPIALLQINMEI&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973%E2%80%931975+recession" class="Z3988"></span></span> </li> <li id="cite_note-16"><span class="mw-cite-backlink"><b><a href="#cite_ref-16">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHorváth1982" class="citation book cs1">Horváth, Dezsö (1982). <i>Small Countries in the World Economy: The Case of Sweden</i>. Institute for Research on Public Policy. p.&#160;42.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=Small+Countries+in+the+World+Economy%3A+The+Case+of+Sweden&amp;rft.pages=42&amp;rft.pub=Institute+for+Research+on+Public+Policy&amp;rft.date=1982&amp;rft.aulast=Horv%C3%A1th&amp;rft.aufirst=Dezs%C3%B6&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973%E2%80%931975+recession" class="Z3988"></span></span> </li> <li id="cite_note-17"><span class="mw-cite-backlink"><b><a href="#cite_ref-17">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFZarnowskyMoore" class="citation web cs1">Zarnowsky, Victor H.; Moore, Geoffrey H. <a rel="nofollow" class="external text" href="https://www.nber.org/chapters/c9101.pdf">"The Recession and Recovery of 1973–1976"</a> <span class="cs1-format">(PDF)</span>. <a href="/wiki/National_Bureau_of_Economic_Research" title="National Bureau of Economic Research">National Bureau of Economic Research</a>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=The+Recession+and+Recovery+of+1973%E2%80%931976&amp;rft.pub=National+Bureau+of+Economic+Research&amp;rft.aulast=Zarnowsky&amp;rft.aufirst=Victor+H.&amp;rft.au=Moore%2C+Geoffrey+H.&amp;rft_id=https%3A%2F%2Fwww.nber.org%2Fchapters%2Fc9101.pdf&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973%E2%80%931975+recession" class="Z3988"></span></span> </li> <li id="cite_note-18"><span class="mw-cite-backlink"><b><a href="#cite_ref-18">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://data.bls.gov/pdq/SurveyOutputServlet">"Labor Force Statistics from the Current Population Survey"</a>. Bureau of Labor Statistics.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=Labor+Force+Statistics+from+the+Current+Population+Survey&amp;rft.pub=Bureau+of+Labor+Statistics&amp;rft_id=http%3A%2F%2Fdata.bls.gov%2Fpdq%2FSurveyOutputServlet&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973%E2%80%931975+recession" class="Z3988"></span></span> </li> <li id="cite_note-19"><span class="mw-cite-backlink"><b><a href="#cite_ref-19">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBaker" class="citation web cs1">Baker, Dean. <a rel="nofollow" class="external text" href="http://www.cepr.net/index.php/blogs/beat-the-press/the-federal-reserve-board-responds-to-bankers">"The Federal Reserve Board Responds to Bankers"</a>. <a href="/wiki/Center_for_Economic_and_Policy_Research" title="Center for Economic and Policy Research">Center for Economic and Policy Research</a>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=The+Federal+Reserve+Board+Responds+to+Bankers&amp;rft.pub=Center+for+Economic+and+Policy+Research&amp;rft.aulast=Baker&amp;rft.aufirst=Dean&amp;rft_id=http%3A%2F%2Fwww.cepr.net%2Findex.php%2Fblogs%2Fbeat-the-press%2Fthe-federal-reserve-board-responds-to-bankers&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973%E2%80%931975+recession" class="Z3988"></span></span> </li> <li id="cite_note-20"><span class="mw-cite-backlink"><b><a href="#cite_ref-20">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMorris" class="citation web cs1">Morris; et&#160;al. <a rel="nofollow" class="external text" href="https://www.bostonfed.org/economic/conf/conf19/conf19.pdf">"After the Phillips Curve: Persistence of High Inflation and High Unemployment"</a> <span class="cs1-format">(PDF)</span>. Federal Reserve Bank of Boston.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=After+the+Phillips+Curve%3A+Persistence+of+High+Inflation+and+High+Unemployment&amp;rft.pub=Federal+Reserve+Bank+of+Boston&amp;rft.au=Morris&amp;rft_id=https%3A%2F%2Fwww.bostonfed.org%2Feconomic%2Fconf%2Fconf19%2Fconf19.pdf&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973%E2%80%931975+recession" class="Z3988"></span></span> </li> <li id="cite_note-21"><span class="mw-cite-backlink"><b><a href="#cite_ref-21">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFOkun" class="citation web cs1">Okun, Arthur. <a rel="nofollow" class="external text" href="https://www.brookings.edu/wp-content/uploads/1975/01/1975a_bpea_okun.pdf">"A Postmortem of the 1974 Recession"</a> <span class="cs1-format">(PDF)</span>. The Brookings Institution.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=A+Postmortem+of+the+1974+Recession&amp;rft.pub=The+Brookings+Institution&amp;rft.aulast=Okun&amp;rft.aufirst=Arthur&amp;rft_id=https%3A%2F%2Fwww.brookings.edu%2Fwp-content%2Fuploads%2F1975%2F01%2F1975a_bpea_okun.pdf&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973%E2%80%931975+recession" class="Z3988"></span></span> </li> <li id="cite_note-22"><span class="mw-cite-backlink"><b><a href="#cite_ref-22">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWilliams" class="citation web cs1">Williams, James. <a rel="nofollow" class="external text" href="http://www.wtrg.com/oil_graphs/oilprice1970.gif">"Oil Price History and Analysis"</a>. <i>www.wtrg.com/prices.htm</i>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=unknown&amp;rft.jtitle=www.wtrg.com%2Fprices.htm&amp;rft.atitle=Oil+Price+History+and+Analysis&amp;rft.aulast=Williams&amp;rft.aufirst=James&amp;rft_id=http%3A%2F%2Fwww.wtrg.com%2Foil_graphs%2Foilprice1970.gif&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973%E2%80%931975+recession" class="Z3988"></span></span> </li> </ol></div> <div class="mw-heading mw-heading2"><h2 id="Further_reading">Further reading</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=1973%E2%80%931975_recession&amp;action=edit&amp;section=7" title="Edit section: Further reading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMeltzer2009" class="citation book cs1"><a href="/wiki/Allan_H._Meltzer" title="Allan H. Meltzer">Meltzer, Allan H.</a> (2009). <i>A History of the Federal Reserve – Volume 2, Book 2: 1970–1986</i>. Chicago: <a href="/wiki/University_of_Chicago_Press" title="University of Chicago Press">University of Chicago Press</a>. pp.&#160;865–889. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a>&#160;<a href="/wiki/Special:BookSources/978-0226213514" title="Special:BookSources/978-0226213514"><bdi>978-0226213514</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=A+History+of+the+Federal+Reserve+%E2%80%93+Volume+2%2C+Book+2%3A+1970%E2%80%931986&amp;rft.place=Chicago&amp;rft.pages=865-889&amp;rft.pub=University+of+Chicago+Press&amp;rft.date=2009&amp;rft.isbn=978-0226213514&amp;rft.aulast=Meltzer&amp;rft.aufirst=Allan+H.&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973%E2%80%931975+recession" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSilber2012" class="citation book cs1">Silber, William L. (2012). <a rel="nofollow" class="external text" href="https://archive.org/details/isbn_9781608193929"><i>Volcker: The Triumph of Persistence</i></a>. New York: <a href="/wiki/Bloomsbury_Press" class="mw-redirect" title="Bloomsbury Press">Bloomsbury Press</a>. pp.&#160;<a rel="nofollow" class="external text" href="https://archive.org/details/isbn_9781608193929/page/118">118–133</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a>&#160;<a href="/wiki/Special:BookSources/978-1608190706" title="Special:BookSources/978-1608190706"><bdi>978-1608190706</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=Volcker%3A+The+Triumph+of+Persistence&amp;rft.place=New+York&amp;rft.pages=118-133&amp;rft.pub=Bloomsbury+Press&amp;rft.date=2012&amp;rft.isbn=978-1608190706&amp;rft.aulast=Silber&amp;rft.aufirst=William+L.&amp;rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fisbn_9781608193929&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973%E2%80%931975+recession" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWells1994" class="citation book cs1">Wells, Wyatt C. (1994). <i>Economist in an Uncertain World: Arthur F. Burns and the Federal Reserve, 1970–1978</i>. New York: <a href="/wiki/Columbia_University_Press" title="Columbia University Press">Columbia University Press</a>. pp.&#160;121–162. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a>&#160;<a href="/wiki/Special:BookSources/978-0231084963" title="Special:BookSources/978-0231084963"><bdi>978-0231084963</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=Economist+in+an+Uncertain+World%3A+Arthur+F.+Burns+and+the+Federal+Reserve%2C+1970%E2%80%931978&amp;rft.place=New+York&amp;rft.pages=121-162&amp;rft.pub=Columbia+University+Press&amp;rft.date=1994&amp;rft.isbn=978-0231084963&amp;rft.aulast=Wells&amp;rft.aufirst=Wyatt+C.&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3A1973%E2%80%931975+recession" class="Z3988"></span></li></ul> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1236075235">.mw-parser-output .navbox{box-sizing:border-box;border:1px solid #a2a9b1;width:100%;clear:both;font-size:88%;text-align:center;padding:1px;margin:1em auto 0}.mw-parser-output .navbox .navbox{margin-top:0}.mw-parser-output .navbox+.navbox,.mw-parser-output .navbox+.navbox-styles+.navbox{margin-top:-1px}.mw-parser-output .navbox-inner,.mw-parser-output .navbox-subgroup{width:100%}.mw-parser-output .navbox-group,.mw-parser-output .navbox-title,.mw-parser-output .navbox-abovebelow{padding:0.25em 1em;line-height:1.5em;text-align:center}.mw-parser-output .navbox-group{white-space:nowrap;text-align:right}.mw-parser-output .navbox,.mw-parser-output .navbox-subgroup{background-color:#fdfdfd}.mw-parser-output .navbox-list{line-height:1.5em;border-color:#fdfdfd}.mw-parser-output .navbox-list-with-group{text-align:left;border-left-width:2px;border-left-style:solid}.mw-parser-output tr+tr>.navbox-abovebelow,.mw-parser-output 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.navbox-image img{max-width:none!important}@media print{body.ns-0 .mw-parser-output .navbox{display:none!important}}</style></div><div role="navigation" class="navbox" aria-labelledby="Economic_expansions_and_recessions_in_the_United_States_and_Commonwealth_of_Nations_countries" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:United_States_%E2%80%93_Commonwealth_of_Nations_recessions" title="Template:United States – Commonwealth of Nations recessions"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:United_States_%E2%80%93_Commonwealth_of_Nations_recessions" title="Template talk:United States – Commonwealth of Nations recessions"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:United_States_%E2%80%93_Commonwealth_of_Nations_recessions" title="Special:EditPage/Template:United States – Commonwealth of Nations recessions"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Economic_expansions_and_recessions_in_the_United_States_and_Commonwealth_of_Nations_countries" style="font-size:114%;margin:0 4em"><a href="/wiki/List_of_economic_expansions_in_the_United_States" title="List of economic expansions in the United States">Economic expansions</a> and <a href="/wiki/List_of_recessions_in_the_United_States" title="List of recessions in the United States">recessions in the United States</a> and <a href="/wiki/Member_states_of_the_Commonwealth_of_Nations" title="Member states of the Commonwealth of Nations">Commonwealth of Nations countries</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><a href="/wiki/Aggregate_demand" title="Aggregate demand">Aggregate demand</a>/<a href="/wiki/Aggregate_supply" title="Aggregate supply">Supply</a> <ul><li><a href="/wiki/Effective_demand" title="Effective demand">Effective demand</a></li> <li><a href="/wiki/General_glut" title="General glut">General glut</a></li> <li><a href="/wiki/AD%E2%80%93AS_model" title="AD–AS model">Model</a></li> <li><a href="/wiki/Overproduction" title="Overproduction">Overproduction</a></li> <li><a href="/wiki/Paradox_of_thrift" title="Paradox of thrift">Paradox of thrift</a></li> <li><a href="/wiki/Nominal_rigidity" title="Nominal rigidity">Price-and-wage stickiness</a></li> <li><a href="/wiki/Underconsumption" title="Underconsumption">Underconsumption</a></li></ul></li> <li><a href="/wiki/Business_cycle" title="Business cycle">Business cycle</a></li> <li><a href="/wiki/Deflation" title="Deflation">Deflation</a>/<a href="/wiki/Inflation" title="Inflation">Inflation</a> <ul><li><a href="/wiki/Chronic_inflation" title="Chronic inflation">Chronic</a></li> <li><a href="/wiki/Classical_dichotomy" title="Classical dichotomy">Classical dichotomy</a></li> <li><a href="/wiki/Disinflation" title="Disinflation">Disinflation</a></li> <li><a href="/wiki/Money_supply" title="Money supply">Money supply</a>/<a href="/wiki/Demand_for_money" title="Demand for money">demand</a></li> <li><a href="/wiki/Neutrality_of_money" title="Neutrality of money">Neutrality of money</a></li> <li><a href="/wiki/Price_level" title="Price level">Price level</a></li> <li><a href="/wiki/Real_versus_nominal_value_(economics)" class="mw-redirect" title="Real versus nominal value (economics)">Real and nominal values</a></li> <li><a href="/wiki/Velocity_of_money" title="Velocity of money">Velocity of money</a></li></ul></li> <li><a href="/wiki/Economic_expansion" title="Economic expansion">Economic expansion</a> <ul><li><a href="/wiki/Economic_recovery" title="Economic recovery">Recovery</a></li> <li><a href="/wiki/Economic_stagnation" title="Economic stagnation">Stagnation</a></li> <li><a href="/wiki/List_of_economic_expansions_in_the_United_States" title="List of economic expansions in the United States">U.S. expansions</a></li></ul></li> <li><a href="/wiki/Interest_rate" title="Interest rate">Interest rate</a> <ul><li><a href="/wiki/Nominal_interest_rate" title="Nominal interest rate">Nominal interest rate</a></li> <li><a href="/wiki/Real_interest_rate" title="Real interest rate">Real interest rate</a></li> <li><a href="/wiki/Yield_curve" title="Yield curve">Yield curve</a>/<a href="/wiki/Inverted_yield_curve" title="Inverted yield curve">Inverted</a></li></ul></li> <li><a href="/wiki/Recession" title="Recession">Recession</a> <ul><li><a href="/wiki/Balance_sheet_recession" title="Balance sheet recession">Balance sheet</a></li> <li><a href="/wiki/Economic_depression" title="Economic depression">Depression</a></li> <li><a href="/wiki/Global_recession" title="Global recession">Global</a></li> <li><a href="/wiki/Rolling_recession" title="Rolling recession">Rolling</a></li> <li><a href="/wiki/Recession_shapes" title="Recession shapes">Shapes</a></li> <li><a href="/wiki/Stagflation" title="Stagflation">Stagflation</a></li> <li><a href="/wiki/List_of_recessions_in_the_United_Kingdom" title="List of recessions in the United Kingdom">U.K. recessions</a></li> <li><a href="/wiki/List_of_recessions_in_the_United_States" title="List of recessions in the United States">U.S. recessions</a></li></ul></li> <li><a href="/wiki/Shock_(economics)" title="Shock (economics)">Shock</a> <ul><li><a href="/wiki/Demand_shock" title="Demand shock">Demand</a></li> <li><a href="/wiki/Supply_shock" title="Supply shock">Supply</a></li></ul></li> <li><a href="/wiki/Unemployment" title="Unemployment">Unemployment</a> <ul><li><a href="/wiki/Sahm_rule" title="Sahm rule">Sahm rule</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Commercial_revolution" title="Commercial revolution">Commercial revolution</a><br />(1000–1760)</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Great_Slump_(15th_century)" title="Great Slump (15th century)">Great Slump</a> (1430–1490)</li> <li><a href="/wiki/War_of_the_Spanish_Succession" title="War of the Spanish Succession">Slump of 1706</a></li> <li><a href="/wiki/Great_Frost_of_1709" title="Great Frost of 1709">Great Frost of 1709</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Industrial_Revolution" title="Industrial Revolution">1st Industrial Revolution</a><br />(1760–1840)</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/British_credit_crisis_of_1772%E2%80%931773" title="British credit crisis of 1772–1773">British credit crisis of 1772–1773</a> <ul><li>1772–1774; <a href="/wiki/British_credit_crisis_of_1772%E2%80%931773#Effects_in_London" title="British credit crisis of 1772–1773">England</a></li> <li><a href="/wiki/British_credit_crisis_of_1772%E2%80%931773#Scotland" title="British credit crisis of 1772–1773">Scotland</a></li> <li><a href="/wiki/British_credit_crisis_of_1772%E2%80%931773" title="British credit crisis of 1772–1773">American Colonies</a></li></ul></li> <li>1785–1788</li> <li><a href="/wiki/Copper_Panic_of_1789" title="Copper Panic of 1789">Copper Panic of 1789</a>/<a href="/wiki/Panic_of_1792" title="Panic of 1792">Panic of 1792</a> (1789–1793)</li> <li><a href="/wiki/Panic_of_1796%E2%80%931797" title="Panic of 1796–1797">Panic of 1796–1797</a> (1796–1799)</li> <li>1802–1804</li> <li>1807–1810</li> <li>1812</li> <li><a href="/wiki/Post-Napoleonic_Depression" title="Post-Napoleonic Depression">Post-Napoleonic Depression</a> (1815–1821)</li> <li>1822–23</li> <li><a href="/wiki/Panic_of_1825" title="Panic of 1825">Panic of 1825</a> (1825–1826)</li> <li>1828–29</li> <li>1833–34</li> <li><a href="/wiki/Panic_of_1837" title="Panic of 1837">Panic of 1837</a> (1836–1838 and 1839–1843)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Victorian_era" title="Victorian era">Early Victorian Britain</a>/<br /><a href="/wiki/History_of_the_United_States_(1849%E2%80%931865)" title="History of the United States (1849–1865)">Civil War-era United States</a><br />(1840–1870)</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li>1845–46</li> <li><a href="/wiki/Panic_of_1847" title="Panic of 1847">Panic of 1847</a> (1847–1848)</li> <li>1853–54</li> <li><a href="/wiki/Panic_of_1857" title="Panic of 1857">Panic of 1857</a> (1857–1858)</li> <li>1860–61</li> <li><a href="/wiki/Panic_of_1866" title="Panic of 1866">Panic of 1866</a> (1865–1867)</li> <li><a href="/wiki/Black_Friday_(1869)" title="Black Friday (1869)">Black Friday</a> (1869–1870)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Gilded_Age" title="Gilded Age">Gilded Age</a>/<br /><a href="/wiki/Second_Industrial_Revolution" title="Second Industrial Revolution">2nd Industrial Revolution</a><br />(1870–1914)</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Long_Depression" title="Long Depression">Long Depression</a>/<a href="/wiki/The_Great_Deflation" title="The Great Deflation">Great Deflation</a> <ul><li>1873–1879; <a href="/wiki/Long_Depression#United_Kingdom" title="Long Depression">United Kingdom</a></li> <li><a href="/wiki/Long_Depression#United_States" title="Long Depression">United States</a></li></ul></li> <li><a href="/wiki/Depression_of_1882%E2%80%931885" title="Depression of 1882–1885">Depression of 1882–1885</a></li> <li>1887–88</li> <li><a href="/wiki/Baring_crisis" title="Baring crisis">Baring crisis</a> (1890–1891)</li> <li><a href="/wiki/Panic_of_1893" title="Panic of 1893">Panic of 1893</a> (1893–1897)</li> <li>1899–1900</li> <li><a href="/wiki/Panic_of_1901" title="Panic of 1901">Panic of 1901</a> (1902–1904)</li> <li><a href="/wiki/Panic_of_1907" title="Panic of 1907">Panic of 1907</a> (1907–1908)</li> <li><a href="/wiki/Panic_of_1910%E2%80%9311" title="Panic of 1910–11">Panic of 1910–11</a> (1910–1912)</li> <li><a href="/wiki/Financial_crisis_of_1914" title="Financial crisis of 1914">Financial crisis of 1914</a> (1913–14)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Interwar_period" title="Interwar period">Interwar period</a><br />(1918–1939)</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Post%E2%80%93World_War_I_recession" title="Post–World War I recession">Post–World War I recession</a> (1918–1919)</li> <li><a href="/wiki/Depression_of_1920%E2%80%931921" title="Depression of 1920–1921">Depression of 1920–1921</a></li> <li><a href="/wiki/Roaring_Twenties" title="Roaring Twenties">Roaring Twenties</a></li> <li>1923–1924</li> <li>1926–1927</li> <li><a href="/wiki/Great_Depression" title="Great Depression">Great Depression</a> <ul><li>1929–1939; <a href="/wiki/Great_Depression_in_Australia" title="Great Depression in Australia">Australia</a></li> <li><a href="/wiki/Great_Depression_in_Canada" title="Great Depression in Canada">Canada</a></li> <li><a href="/wiki/Great_Depression_in_India" title="Great Depression in India">India</a></li> <li><a href="/wiki/History_of_New_Zealand" title="History of New Zealand">New Zealand</a></li> <li><a href="/wiki/Great_Depression_in_South_Africa" title="Great Depression in South Africa">South Africa</a></li> <li><a href="/wiki/Great_Depression_in_the_United_Kingdom" title="Great Depression in the United Kingdom">United Kingdom</a></li> <li><a href="/wiki/Great_Depression_in_the_United_States" title="Great Depression in the United States">United States</a></li></ul></li> <li><a href="/wiki/Recession_of_1937%E2%80%931938" title="Recession of 1937–1938">Recession of 1937–1938</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Post%E2%80%93World_War_II_economic_expansion" title="Post–World War II economic expansion">Post–WWII expansion</a><br />(1945–1973)</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li>1945</li> <li><a href="/wiki/Recession_of_1949" title="Recession of 1949">Recession of 1949</a> (1948–1949)</li> <li><a href="/wiki/Recession_of_1953" title="Recession of 1953">Recession of 1953</a> (1953–1954)</li> <li><a href="/wiki/Recession_of_1958" title="Recession of 1958">Recession of 1958</a> (1957–1958)</li> <li><a href="/wiki/Recession_of_1960%E2%80%931961" title="Recession of 1960–1961">Recession of 1960–1961</a></li> <li><a href="/wiki/Recession_of_1969%E2%80%931970" title="Recession of 1969–1970">Recession of 1969–1970</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Stagflation" title="Stagflation">Great Inflation</a><br />(1973–1982)</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a class="mw-selflink selflink">1973–1975 recession</a> <ul><li><a class="mw-selflink-fragment" href="#United_Kingdom">United Kingdom</a></li> <li><a class="mw-selflink-fragment" href="#United_States">United States</a></li></ul></li> <li><a href="/wiki/Early_1980s_recession" title="Early 1980s recession">Early 1980s recession</a> <ul><li>1980–1982; <a href="/wiki/Early_1980s_recession#Canada" title="Early 1980s recession">Canada</a></li> <li><a href="/wiki/Early_1980s_recession#United_Kingdom" title="Early 1980s recession">United Kingdom</a></li> <li><a href="/wiki/Early_1980s_recession_in_the_United_States" title="Early 1980s recession in the United States">United States</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Great_Moderation" title="Great Moderation">Great Moderation</a>/<br /><a href="/wiki/Great_Regression" class="mw-redirect" title="Great Regression">Great Regression</a><br />(1982–2007)</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/1990s_United_States_boom" title="1990s United States boom">1990s United States boom</a></li> <li><a href="/wiki/Early_1990s_recession" title="Early 1990s recession">Early 1990s recession</a> <ul><li>1990–1991; <a href="/wiki/Early_1990s_recession_in_Australia" title="Early 1990s recession in Australia">Australia</a></li> <li><a href="/wiki/Early_1990s_recession#Canada" title="Early 1990s recession">Canada</a></li> <li><a href="/wiki/Early_1990s_recession#United_Kingdom" title="Early 1990s recession">United Kingdom</a></li> <li><a href="/wiki/Early_1990s_recession_in_the_United_States" title="Early 1990s recession in the United States">United States</a></li></ul></li> <li><a href="/wiki/1997_Asian_financial_crisis" title="1997 Asian financial crisis">1997 Asian financial crisis</a></li> <li><a href="/wiki/Early_2000s_recession" title="Early 2000s recession">Early 2000s recession</a> (2001)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Information_Age" title="Information Age">Information Age</a><br />(2007–present)</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Great_Recession" title="Great Recession">Great Recession</a> <ul><li>2007–2009; <a href="/wiki/Great_Recession_in_Oceania#Australia" title="Great Recession in Oceania">Australia</a></li> <li><a href="/wiki/Great_Recession_in_Asia#Bangladesh" title="Great Recession in Asia">Bangladesh</a></li> <li><a href="/wiki/Great_Recession_in_the_Americas#Canada" title="Great Recession in the Americas">Canada</a></li> <li><a href="/wiki/Great_Recession_in_Asia#India" title="Great Recession in Asia">India</a></li> <li><a href="/wiki/Great_Recession_in_Asia#Malysia" title="Great Recession in Asia">Malaysia</a></li> <li><a href="/wiki/Great_Recession_in_Oceania#New_Zealand" title="Great Recession in Oceania">New Zealand</a></li> <li><a href="/wiki/Great_Recession_in_Asia#Pakistan" title="Great Recession in Asia">Pakistan</a></li> <li><a href="/wiki/Great_Recession_in_Africa" title="Great Recession in Africa">South Africa</a></li> <li><a href="/wiki/Great_Recession_in_Asia#Sri_Lanka" title="Great Recession in Asia">Sri Lanka</a></li> <li><a href="/wiki/Great_Recession_in_Europe#United_Kingdom" title="Great Recession in Europe">United Kingdom</a></li> <li><a href="/wiki/Great_Recession_in_the_United_States" title="Great Recession in the United States">United States</a></li></ul></li> <li><a href="/wiki/COVID-19_recession" title="COVID-19 recession">COVID-19 recession</a> <ul><li>2020–2022; <a href="/wiki/COVID-19_recession#Australia" title="COVID-19 recession">Australia</a></li> <li><a href="/wiki/COVID-19_recession#Bangladsh" title="COVID-19 recession">Bangladesh</a></li> <li><a href="/wiki/COVID-19_recession#Belize" title="COVID-19 recession">Belize</a></li> <li><a href="/wiki/COVID-19_recession#Botswana" title="COVID-19 recession">Botswana</a></li> <li><a href="/wiki/Economic_impact_of_the_COVID-19_pandemic_in_Canada" title="Economic impact of the COVID-19 pandemic in Canada">Canada</a></li> <li><a href="/wiki/Economic_impact_of_the_COVID-19_pandemic_in_India" title="Economic impact of the COVID-19 pandemic in India">India</a></li> <li><a href="/wiki/Economic_impact_of_the_COVID-19_pandemic_in_Malaysia" title="Economic impact of the COVID-19 pandemic in Malaysia">Malaysia</a></li> <li><a href="/wiki/COVID-19_recession#Namibia" title="COVID-19 recession">Namibia</a></li> <li><a href="/wiki/Economic_impact_of_the_COVID-19_pandemic_in_New_Zealand" title="Economic impact of the COVID-19 pandemic in New Zealand">New Zealand</a></li> <li><a href="/wiki/COVID-19_pandemic_in_Singapore#Economic_impact" title="COVID-19 pandemic in Singapore">Singapore</a></li> <li><a href="/wiki/Economic_impact_of_the_COVID-19_pandemic_in_the_United_Kingdom" title="Economic impact of the COVID-19 pandemic in the United Kingdom">United Kingdom</a></li> <li><a href="/wiki/Economic_impact_of_the_COVID-19_pandemic_in_the_United_States" title="Economic impact of the COVID-19 pandemic in the United States">United States</a></li> <li><a href="/wiki/COVID-19_recession#Zambia" title="COVID-19 recession">Zambia</a></li></ul></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="History_of_the_United_States" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:US_history" class="mw-redirect" title="Template:US history"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:US_history" class="mw-redirect" title="Template talk:US history"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:US_history" title="Special:EditPage/Template:US history"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="History_of_the_United_States" style="font-size:114%;margin:0 4em"><a href="/wiki/History_of_the_United_States" title="History of the United States">History of the United States</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="2" style="font-weight: bold;"><div> <ul><li><a href="/wiki/Timeline_of_United_States_history" class="mw-redirect" title="Timeline of United States history">Timeline</a></li> <li><a href="/wiki/Outline_of_United_States_history" class="mw-redirect" title="Outline of United States history">Outline</a></li></ul> </div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Events" style="font-size:114%;margin:0 4em">Events</div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%">Pre-Colonial</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><b><a href="/wiki/Geological_history_of_North_America" title="Geological history of North America">Prehistoric</a></b></li> <li><b><a href="/wiki/Pre-Columbian_era" title="Pre-Columbian era">Pre-Columbian Era</a></b></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Colonial_history_of_the_United_States" title="Colonial history of the United States">Colonial</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Exploration_of_North_America" title="Exploration of North America">Exploration of North America</a></li> <li><a href="/wiki/European_colonization_of_the_Americas" title="European colonization of the Americas">European colonization</a></li> <li><a href="/wiki/Native_American_disease_and_epidemics" title="Native American disease and epidemics">Native American epidemics</a></li> <li><a href="/wiki/History_of_Jamestown,_Virginia_(1607%E2%80%931699)" title="History of Jamestown, Virginia (1607–1699)">Settlement of Jamestown</a></li> <li><a href="/wiki/Thirteen_Colonies" title="Thirteen Colonies">Thirteen Colonies</a></li> <li><a href="/wiki/Atlantic_slave_trade" title="Atlantic slave trade">Atlantic slave trade</a></li> <li><a href="/wiki/King_William%27s_War" title="King William&#39;s War">King William's War</a></li> <li><a href="/wiki/Queen_Anne%27s_War" title="Queen Anne&#39;s War">Queen Anne's War</a></li> <li><a href="/wiki/Dummer%27s_War" title="Dummer&#39;s War">Dummer's War</a></li> <li><a href="/wiki/First_Great_Awakening" title="First Great Awakening">First Great Awakening</a></li> <li><a href="/wiki/War_of_Jenkins%27_Ear" title="War of Jenkins&#39; Ear">War of Jenkins' Ear</a></li> <li><a href="/wiki/King_George%27s_War" title="King George&#39;s War">King George's War</a></li> <li><a href="/wiki/American_Revolution#Origin" title="American Revolution">Prelude to Revolution</a> <ul><li><a href="/wiki/American_Enlightenment" title="American Enlightenment">American Enlightenment</a></li> <li><a href="/wiki/French_and_Indian_War" title="French and Indian War">French and Indian War</a></li> <li><a href="/wiki/Royal_Proclamation_of_1763" title="Royal Proclamation of 1763">Proclamation of 1763</a></li> <li><a href="/wiki/Sugar_Act" title="Sugar Act">Sugar Act</a></li> <li><a href="/wiki/Stamp_Act_Congress" title="Stamp Act Congress">Stamp Act Congress</a></li> <li><a href="/wiki/Sons_of_Liberty" title="Sons of Liberty">Sons of Liberty</a></li> <li><a href="/wiki/Boston_Massacre" title="Boston Massacre">Boston Massacre</a></li> <li><a href="/wiki/Boston_Tea_Party" title="Boston Tea Party">Boston Tea Party</a></li> <li><a href="/wiki/Intolerable_Acts" title="Intolerable Acts">Intolerable Acts</a></li> <li><a href="/wiki/First_Continental_Congress" title="First Continental Congress">First Continental Congress</a></li> <li><a href="/wiki/Continental_Association" title="Continental Association">Continental Association</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/History_of_the_United_States_(1776%E2%80%931789)" title="History of the United States (1776–1789)">1776–1789</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/American_Revolution" title="American Revolution">American Revolution</a> <ul><li><a href="/wiki/American_Revolutionary_War" title="American Revolutionary War">War</a></li> <li><a href="/wiki/Second_Continental_Congress" title="Second Continental Congress">Second Continental Congress</a></li> <li><a href="/wiki/Lee_Resolution" title="Lee Resolution">Lee Resolution</a></li> <li><a href="/wiki/United_States_Declaration_of_Independence" title="United States Declaration of Independence">Declaration of Independence</a></li> <li><a href="/wiki/Treaty_of_Paris_(1783)" title="Treaty of Paris (1783)">Treaty of Paris</a></li></ul></li> <li><a href="/wiki/Confederation_period" title="Confederation period">Confederation period</a> <ul><li><a href="/wiki/Articles_of_Confederation" title="Articles of Confederation">Articles of Confederation</a> <a href="/wiki/Perpetual_Union" title="Perpetual Union">and Perpetual Union</a></li> <li><a href="/wiki/Pennsylvania_Mutiny_of_1783" title="Pennsylvania Mutiny of 1783">Pennsylvania Mutiny</a></li> <li><a href="/wiki/Shays%27_Rebellion" class="mw-redirect" title="Shays&#39; Rebellion">Shays' Rebellion</a></li> <li><a href="/wiki/Northwest_Ordinance" title="Northwest Ordinance">Northwest Ordinance</a></li> <li><a href="/wiki/History_of_the_United_States_Constitution" title="History of the United States Constitution">Drafting and ratification of the Constitution</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/History_of_the_United_States_(1789%E2%80%931815)" title="History of the United States (1789–1815)">1789–1815</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/United_States_Bill_of_Rights" title="United States Bill of Rights">Bill of Rights</a></li> <li><a href="/wiki/Federalist_Era" title="Federalist Era">Federalist Era</a> <ul><li><a href="/wiki/Whiskey_Rebellion" title="Whiskey Rebellion">Whiskey Rebellion</a></li> <li><a href="/wiki/Quasi-War" title="Quasi-War">Quasi-War</a></li></ul></li> <li><a href="/wiki/Jeffersonian_democracy" title="Jeffersonian democracy">Jeffersonian era</a> <ul><li><a href="/wiki/Louisiana_Purchase" title="Louisiana Purchase">Louisiana Purchase</a></li> <li><a href="/wiki/War_of_1812" title="War of 1812">War of 1812</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/History_of_the_United_States_(1815%E2%80%931849)" title="History of the United States (1815–1849)">1815–1849</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Era_of_Good_Feelings" title="Era of Good Feelings">Era of Good Feelings</a> <ul><li><a href="/wiki/Missouri_Compromise" title="Missouri Compromise">Missouri Compromise</a></li> <li><a href="/wiki/Monroe_Doctrine" title="Monroe Doctrine">Monroe Doctrine</a></li></ul></li> <li><a href="/wiki/Jacksonian_democracy" title="Jacksonian democracy">Jacksonian era</a> <ul><li><a href="/wiki/Trail_of_Tears" title="Trail of Tears">Trail of Tears</a></li> <li><a href="/wiki/Nat_Turner%27s_slave_rebellion" class="mw-redirect" title="Nat Turner&#39;s slave rebellion">Nat Turner's slave rebellion</a></li> <li><a href="/wiki/Nullification_crisis" title="Nullification crisis">Nullification crisis</a></li> <li><a href="/wiki/Manifest_destiny" title="Manifest destiny">Westward expansion</a></li> <li><a href="/wiki/Mexican%E2%80%93American_War" title="Mexican–American War">Mexican–American War</a></li> <li><a href="/wiki/Seneca_Falls_Convention" title="Seneca Falls Convention">Seneca Falls Convention</a></li></ul></li> <li><a href="/wiki/Industrial_Revolution#United_States" title="Industrial Revolution">First Industrial Revolution</a></li> <li><a href="/wiki/Second_Great_Awakening" title="Second Great Awakening">Second Great Awakening</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/History_of_the_United_States_(1849%E2%80%931865)" title="History of the United States (1849–1865)">1849–1865</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Antebellum_South" title="Antebellum South">Antebellum Era</a></li> <li><a href="/wiki/California_Gold_Rush" class="mw-redirect" title="California Gold Rush">California Gold Rush</a></li> <li><a href="/wiki/Origins_of_the_American_Civil_War" title="Origins of the American Civil War">Prelude to War</a> <ul><li><a href="/wiki/Compromise_of_1850" title="Compromise of 1850">Compromise of 1850</a></li> <li><a href="/wiki/Fugitive_Slave_Act_of_1850" title="Fugitive Slave Act of 1850">Fugitive Slave Act</a></li> <li><a href="/wiki/Kansas%E2%80%93Nebraska_Act" title="Kansas–Nebraska Act">Kansas–Nebraska Act</a> <ul><li><a href="/wiki/Bleeding_Kansas" title="Bleeding Kansas">Bleeding Kansas</a></li></ul></li> <li><a href="/wiki/Dred_Scott_v._Sandford" title="Dred Scott v. Sandford">Dred Scott decision</a></li> <li><a href="/wiki/1860_United_States_presidential_election" title="1860 United States presidential election">Election of Lincoln</a></li> <li><a href="/wiki/Confederate_States_of_America#Secession" title="Confederate States of America">Secession</a></li></ul></li> <li><a href="/wiki/American_Civil_War" title="American Civil War">Civil War</a> <ul><li><a href="/wiki/Emancipation_Proclamation" title="Emancipation Proclamation">Emancipation Proclamation</a></li> <li><a href="/wiki/Assassination_of_Abraham_Lincoln" title="Assassination of Abraham Lincoln">Assassination of Abraham Lincoln</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/History_of_the_United_States_(1865%E2%80%931917)" title="History of the United States (1865–1917)">1865–1917</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Reconstruction_era" title="Reconstruction era">Reconstruction era</a> <ul><li><a href="/wiki/Reconstruction_Amendments" title="Reconstruction Amendments">Amendments</a></li> <li><a href="/wiki/First_transcontinental_railroad" title="First transcontinental railroad">First transcontinental railroad</a></li> <li><a href="/wiki/Ku_Klux_Klan" title="Ku Klux Klan">Ku Klux Klan</a></li> <li><a href="/wiki/Enforcement_Acts" title="Enforcement Acts">Enforcement Acts</a></li> <li><a href="/wiki/Compromise_of_1877" title="Compromise of 1877">Compromise of 1877</a></li></ul></li> <li><a href="/wiki/Second_Industrial_Revolution#United_States" title="Second Industrial Revolution">Second Industrial Revolution</a></li> <li><a href="/wiki/Gilded_Age" title="Gilded Age">Gilded Age</a> <ul><li><a href="/wiki/The_Gospel_of_Wealth" title="The Gospel of Wealth">The Gospel of Wealth</a></li> <li><a href="/wiki/Assassination_of_James_A._Garfield" title="Assassination of James A. Garfield">Assassination of James A. Garfield</a></li> <li><a href="/wiki/Chinese_Exclusion_Act" title="Chinese Exclusion Act">Chinese Exclusion Act</a></li> <li><a href="/wiki/Pendleton_Civil_Service_Reform_Act" title="Pendleton Civil Service Reform Act">Pendleton Civil Service Reform Act</a></li> <li><a href="/wiki/Haymarket_affair" title="Haymarket affair">Haymarket affair</a></li> <li><a href="/wiki/Sherman_Antitrust_Act" title="Sherman Antitrust Act">Sherman Antitrust Act</a></li></ul></li> <li><a href="/wiki/Progressive_Era" title="Progressive Era">Progressive Era</a> <ul><li><a href="/wiki/Spanish%E2%80%93American_War" title="Spanish–American War">Spanish–American War</a></li> <li><a href="/wiki/American_imperialism" title="American imperialism">Imperialism</a></li> <li><a href="/wiki/Assassination_of_William_McKinley" title="Assassination of William McKinley">Assassination of William McKinley</a></li> <li><a href="/wiki/Square_Deal" title="Square Deal">Square Deal</a></li></ul></li> <li><a href="/wiki/Nadir_of_American_race_relations" title="Nadir of American race relations">Nadir of American race relations</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/History_of_the_United_States_(1917%E2%80%931945)" title="History of the United States (1917–1945)">1917–1945</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/United_States_in_World_War_I" title="United States in World War I">World War I</a> <ul><li><a href="/wiki/Paris_Peace_Conference_(1919%E2%80%931920)#American_approach" title="Paris Peace Conference (1919–1920)">Paris Peace Conference</a></li></ul></li> <li><a href="/wiki/First_Red_Scare" title="First Red Scare">First Red Scare</a></li> <li><a href="/wiki/Roaring_Twenties" title="Roaring Twenties">Roaring Twenties</a> <ul><li><a href="/wiki/Prohibition_in_the_United_States" title="Prohibition in the United States">Prohibition</a></li> <li><a href="/wiki/Women%27s_suffrage_in_the_United_States" title="Women&#39;s suffrage in the United States">Women's suffrage</a></li> <li><a href="/wiki/Tulsa_race_massacre" title="Tulsa race massacre">Tulsa race massacre</a></li> <li><a href="/wiki/Ku_Klux_Klan#Second_Klan:_1915–1944" title="Ku Klux Klan">Second Klan</a></li> <li><a href="/wiki/Bath_School_disaster" title="Bath School disaster">Bath School disaster</a></li> <li><a href="/wiki/Harlem_Renaissance" title="Harlem Renaissance">Harlem Renaissance</a></li></ul></li> <li><a href="/wiki/Great_Depression" title="Great Depression">Great Depression</a> <ul><li><a href="/wiki/Wall_Street_Crash_of_1929" class="mw-redirect" title="Wall Street Crash of 1929">Wall Street Crash of 1929</a></li> <li><a href="/wiki/Dust_Bowl" title="Dust Bowl">Dust Bowl</a></li> <li><a href="/wiki/New_Deal" title="New Deal">New Deal</a></li></ul></li> <li><a href="/wiki/Military_history_of_the_United_States_during_World_War_II" title="Military history of the United States during World War II">World War II</a> <ul><li><a href="/wiki/Attack_on_Pearl_Harbor" title="Attack on Pearl Harbor">Pearl Harbor</a></li> <li><a href="/wiki/United_States_home_front_during_World_War_II" title="United States home front during World War II">home front</a></li> <li><a href="/wiki/Manhattan_Project" title="Manhattan Project">Manhattan Project</a> <ul><li><a href="/wiki/Atomic_bombings_of_Hiroshima_and_Nagasaki" title="Atomic bombings of Hiroshima and Nagasaki">Atomic bombings of Hiroshima and Nagasaki</a></li></ul></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/History_of_the_United_States_(1945%E2%80%931964)" title="History of the United States (1945–1964)">1945–1964</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/United_States_strike_wave_of_1945%E2%80%931946" title="United States strike wave of 1945–1946">Strike wave of 1945–1946</a></li> <li><a href="/wiki/Cold_War_(1947%E2%80%931948)" title="Cold War (1947–1948)">Start of Cold War</a> <ul><li><a href="/wiki/Truman_Doctrine" title="Truman Doctrine">Truman Doctrine</a></li></ul></li> <li><a href="/wiki/Cold_War_(1948%E2%80%931953)" title="Cold War (1948–1953)">Early Cold War</a> <ul><li><a href="/wiki/North_Atlantic_Treaty" title="North Atlantic Treaty">North Atlantic Treaty</a></li> <li><a href="/wiki/Korean_War" title="Korean War">Korean War</a></li> <li><a href="/wiki/Ivy_Mike" title="Ivy Mike">Ivy Mike</a></li> <li><a href="/wiki/McCarthyism" title="McCarthyism">McCarthyism</a></li></ul></li> <li><a href="/wiki/Post%E2%80%93World_War_II_economic_expansion" title="Post–World War II economic expansion">Post-war boom</a></li> <li><a href="/wiki/Project_Mercury" title="Project Mercury">Project Mercury</a></li> <li><a href="/wiki/Civil_rights_movement" title="Civil rights movement">Civil Rights Movement</a></li> <li><a href="/wiki/Cold_War_(1953%E2%80%931962)" title="Cold War (1953–1962)">Early–mid Cold War</a> <ul><li><a href="/wiki/Cuban_Missile_Crisis" title="Cuban Missile Crisis">Cuban Missile Crisis</a></li></ul></li> <li><a href="/wiki/Assassination_of_John_F._Kennedy" title="Assassination of John F. Kennedy">Assassination of John F. Kennedy</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/History_of_the_United_States_(1964%E2%80%931980)" title="History of the United States (1964–1980)">1964–1980</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Great_Society" title="Great Society">Great Society</a></li> <li><a href="/wiki/Space_Race" title="Space Race">Space Race</a> <ul><li><a href="/wiki/Project_Gemini" title="Project Gemini">Project Gemini</a></li> <li><a href="/wiki/Apollo_program" title="Apollo program">Apollo program</a></li></ul></li> <li><a href="/wiki/Cold_War_(1962%E2%80%931979)" title="Cold War (1962–1979)">Mid Cold War</a> <ul><li><a href="/wiki/D%C3%A9tente" title="Détente">Détente</a></li> <li><a href="/wiki/Vietnam_War" title="Vietnam War">Vietnam War</a></li> <li><a href="/wiki/Fall_of_Saigon" title="Fall of Saigon">Fall of Saigon</a></li></ul></li> <li><a href="/wiki/Assassination_of_Martin_Luther_King_Jr." title="Assassination of Martin Luther King Jr.">Assassination of Martin Luther King Jr.</a></li> <li><a href="/wiki/Counterculture_of_the_1960s" title="Counterculture of the 1960s">Counterculture</a></li> <li><a href="/wiki/Second-wave_feminism" title="Second-wave feminism">Second-wave feminism</a></li> <li><a href="/wiki/Gay_liberation" title="Gay liberation">Gay liberation</a> <ul><li><a href="/wiki/Stonewall_riots" title="Stonewall riots">Stonewall riots</a></li></ul></li> <li><a href="/wiki/Watergate_scandal" title="Watergate scandal">Watergate scandal</a></li> <li><a href="/wiki/Iran_hostage_crisis" title="Iran hostage crisis">Iran hostage crisis</a></li> <li><a href="/wiki/Moral_Majority" title="Moral Majority">Moral Majority</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/History_of_the_United_States_(1980%E2%80%931991)" title="History of the United States (1980–1991)">1980–1991</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Reagan_era" title="Reagan era">Reagan era</a> <ul><li><a href="/wiki/Reaganomics" title="Reaganomics">Reaganomics</a></li> <li><a href="/wiki/Iran%E2%80%93Contra_affair" title="Iran–Contra affair">Iran–Contra affair</a></li></ul></li> <li><a href="/wiki/Crack_epidemic_in_the_United_States" title="Crack epidemic in the United States">Crack epidemic</a></li> <li><a href="/wiki/Cold_War_(1979%E2%80%931985)" title="Cold War (1979–1985)">Late Cold War</a> <ul><li><a href="/wiki/United_States_invasion_of_Grenada" title="United States invasion of Grenada">Invasion of Grenada</a></li> <li><a href="/wiki/Reagan_Doctrine" title="Reagan Doctrine">Reagan Doctrine</a></li> <li><a href="/wiki/Cold_War_(1985%E2%80%931991)" title="Cold War (1985–1991)">End of the Cold War</a></li></ul></li> <li><a href="/wiki/Space_Shuttle_program" title="Space Shuttle program">Space Shuttle program</a></li> <li><a href="/wiki/War_on_drugs" title="War on drugs">War on drugs</a></li> <li><a href="/wiki/United_States_invasion_of_Panama" title="United States invasion of Panama">Invasion of Panama</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/History_of_the_United_States_(1991%E2%80%932008)" title="History of the United States (1991–2008)">1991–2008</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Gulf_War" title="Gulf War">Gulf War</a></li> <li><a href="/wiki/North_American_Free_Trade_Agreement" title="North American Free Trade Agreement">NAFTA</a></li> <li><a href="/wiki/1992_Los_Angeles_riots" title="1992 Los Angeles riots"> Los Angeles riots</a></li> <li><a href="/wiki/1993_World_Trade_Center_bombing" title="1993 World Trade Center bombing">WTC bombing</a></li> <li><a href="/wiki/Waco_siege" title="Waco siege">Waco siege</a></li> <li><a href="/wiki/Republican_Revolution" title="Republican Revolution">Republican Revolution</a></li> <li><a href="/wiki/Oklahoma_City_bombing" title="Oklahoma City bombing">Oklahoma City bombing</a></li> <li><a href="/wiki/Columbine_High_School_massacre" title="Columbine High School massacre">Columbine</a></li> <li><i><a href="/wiki/Bush_v._Gore" title="Bush v. Gore">Bush v. Gore</a></i></li> <li><a href="/wiki/September_11_attacks" title="September 11 attacks">September 11 attacks</a></li> <li><a href="/wiki/War_on_terror" title="War on terror">War on terror</a> <ul><li><a href="/wiki/War_in_Afghanistan_(2001%E2%80%932021)" title="War in Afghanistan (2001–2021)">War in Afghanistan</a></li> <li><a href="/wiki/Iraq_War" title="Iraq War">Iraq War</a></li></ul></li> <li><a href="/wiki/Hurricane_Katrina" title="Hurricane Katrina">Hurricane Katrina</a></li> <li><a href="/wiki/Virginia_Tech_shooting" title="Virginia Tech shooting">Virginia Tech shooting</a></li> <li><a href="/wiki/Great_Recession_in_the_United_States" title="Great Recession in the United States">Great Recession</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/History_of_the_United_States_(2008%E2%80%93present)" title="History of the United States (2008–present)">2008–present</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Killing_of_Osama_bin_Laden" title="Killing of Osama bin Laden">Killing of Osama bin Laden</a></li> <li><a href="/wiki/List_of_mass_shootings_in_the_United_States" title="List of mass shootings in the United States">Rise in mass shootings</a> <ul><li><a href="/wiki/2011_Tucson_shooting" title="2011 Tucson shooting">Tucson</a></li> <li><a href="/wiki/2012_Aurora_theater_shooting" title="2012 Aurora theater shooting">Aurora</a></li> <li><a href="/wiki/Sandy_Hook_Elementary_School_shooting" title="Sandy Hook Elementary School shooting">Sandy Hook</a></li> <li><a href="/wiki/Pulse_nightclub_shooting" title="Pulse nightclub shooting">Orlando</a></li> <li><a href="/wiki/2017_Las_Vegas_shooting" title="2017 Las Vegas shooting">Las Vegas</a></li> <li><a href="/wiki/Parkland_high_school_shooting" title="Parkland high school shooting">Parkland</a></li> <li><a href="/wiki/2019_El_Paso_shooting" class="mw-redirect" title="2019 El Paso shooting">El Paso</a></li> <li><a href="/wiki/Uvalde_school_shooting" title="Uvalde school shooting">Uvalde</a></li></ul></li> <li><a href="/wiki/Black_Lives_Matter" title="Black Lives Matter">Black Lives Matter</a></li> <li><i><a href="/wiki/Obergefell_v._Hodges" title="Obergefell v. Hodges">Obergefell v. Hodges</a></i></li> <li><a href="/wiki/Unite_the_Right_rally" title="Unite the Right rally">Unite the Right rally</a></li> <li><a href="/wiki/COVID-19_pandemic_in_the_United_States" title="COVID-19 pandemic in the United States">COVID-19 pandemic</a> <ul><li><a href="/wiki/COVID-19_recession" title="COVID-19 recession">recession</a></li></ul></li> <li><a href="/wiki/George_Floyd_protests" title="George Floyd protests">George Floyd protests</a></li> <li><a href="/wiki/January_6_United_States_Capitol_attack" title="January 6 United States Capitol attack">January 6 insurrection</a></li> <li><a href="/wiki/2020%E2%80%932021_US_troop_withdrawal_from_Afghanistan" class="mw-redirect" title="2020–2021 US troop withdrawal from Afghanistan">Afghanistan withdrawal</a></li> <li><i><a href="/wiki/Dobbs_v._Jackson_Women%27s_Health_Organization" title="Dobbs v. Jackson Women&#39;s Health Organization">Dobbs v. Jackson Women's Health Organization</a></i></li> <li><a href="/wiki/Foreign_involvement_in_the_Russian_invasion_of_Ukraine" title="Foreign involvement in the Russian invasion of Ukraine">Support of Ukraine</a></li> <li><a href="/wiki/Donald_Trump#Investigations,_criminal_charges,_civil_lawsuits" title="Donald Trump">Indictments of Donald Trump</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Topics" style="font-size:114%;margin:0 4em">Topics</div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><b><a href="/wiki/American_Century" title="American Century">American Century</a></b></li> <li><b><a href="/wiki/History_of_antisemitism_in_the_United_States" title="History of antisemitism in the United States">Antisemitism</a></b></li> <li><b><a href="/wiki/Cultural_history_of_the_United_States" title="Cultural history of the United States">Cultural</a></b> <ul><li><a href="/wiki/History_of_cinema_in_the_United_States" title="History of cinema in the United States">Cinema</a></li> <li><a href="/wiki/Music_history_of_the_United_States" title="Music history of the United States">Music</a></li> <li><a href="/wiki/History_of_American_newspapers" title="History of American newspapers">Newspapers</a></li> <li><a href="/wiki/History_of_sports_in_the_United_States" title="History of sports in the United States">Sports</a></li></ul></li> <li><b><a href="/wiki/Demographic_history_of_the_United_States" title="Demographic history of the United States">Demography</a></b> <ul><li><a href="/wiki/History_of_immigration_to_the_United_States" title="History of immigration to the United States">Immigration</a></li></ul></li> <li><b><a href="/wiki/Economic_history_of_the_United_States" title="Economic history of the United States">Economy</a></b> <ul><li><a href="/wiki/History_of_banking_in_the_United_States" title="History of banking in the United States">Banking</a></li></ul></li> <li><b><a href="/wiki/History_of_education_in_the_United_States" title="History of education in the United States">Education</a></b> <ul><li><a href="/wiki/History_of_higher_education_in_the_United_States" title="History of higher education in the United States">Higher education</a></li></ul></li> <li><b><a href="/wiki/List_of_flags_of_the_United_States" title="List of flags of the United States">Flag</a></b></li> <li><b><a href="/wiki/History_of_the_United_States_government" title="History of the United States government">Government</a></b> <ul><li><a href="/wiki/History_of_abortion_in_the_United_States" class="mw-redirect" title="History of abortion in the United States">Abortion</a></li> <li><a href="/wiki/History_of_capital_punishment_in_the_United_States" class="mw-redirect" title="History of capital punishment in the United States">Capital punishment</a></li> <li><a href="/wiki/History_of_civil_rights_in_the_United_States" title="History of civil rights in the United States">Civil Rights</a></li> <li><a href="/wiki/History_of_corruption_in_the_United_States" class="mw-redirect" title="History of corruption in the United States">Corruption</a></li> <li><a href="/wiki/History_of_the_United_States_Constitution" title="History of the United States Constitution">The Constitution</a></li> <li><a href="/wiki/History_of_the_United_States_debt_ceiling" title="History of the United States debt ceiling">Debt ceiling</a></li> <li><a href="/wiki/History_of_direct_democracy_in_the_United_States" title="History of direct democracy in the United States">Direct democracy</a></li> <li><a href="/wiki/History_of_United_States_foreign_policy" class="mw-redirect" title="History of United States foreign policy">Foreign policy</a></li> <li><a href="/wiki/History_of_law_enforcement_in_the_United_States" class="mw-redirect" title="History of law enforcement in the United States">Law enforcement</a></li> <li><a href="/wiki/Postage_stamps_and_postal_history_of_the_United_States" title="Postage stamps and postal history of the United States">Postal service</a></li> <li><a href="/wiki/History_of_taxation_in_the_United_States" title="History of taxation in the United States">Taxation</a></li> <li><a href="/wiki/Voting_rights_in_the_United_States" title="Voting rights in the United States">Voting rights</a></li></ul></li> <li><b><a href="/wiki/History_of_American_journalism" title="History of American journalism">Journalism</a></b></li> <li><b><a href="/wiki/History_of_the_United_States_Merchant_Marine" title="History of the United States Merchant Marine">Merchant Marine</a></b></li> <li><b><a href="/wiki/Military_history_of_the_United_States" title="Military history of the United States">Military</a></b> <ul><li><a href="/wiki/History_of_the_United_States_Army" title="History of the United States Army">Army</a></li> <li><a href="/wiki/History_of_the_United_States_Marine_Corps" title="History of the United States Marine Corps">Marine Corps</a></li> <li><a href="/wiki/History_of_the_United_States_Navy" title="History of the United States Navy">Navy</a></li> <li><a href="/wiki/History_of_the_United_States_Air_Force" title="History of the United States Air Force">Air Force</a></li> <li><a href="/wiki/History_of_the_United_States_Space_Force" title="History of the United States Space Force">Space Force</a></li> <li><a href="/wiki/History_of_the_United_States_Coast_Guard" title="History of the United States Coast Guard">Coast Guard</a></li></ul></li> <li><b><a href="/wiki/Political_eras_of_the_United_States" title="Political eras of the United States">Party Systems</a></b> <ul><li><a href="/wiki/First_Party_System" title="First Party System">First</a></li> <li><a href="/wiki/Second_Party_System" title="Second Party System">Second</a></li> <li><a href="/wiki/Third_Party_System" title="Third Party System">Third</a></li> <li><a href="/wiki/Fourth_Party_System" title="Fourth Party System">Fourth</a></li> <li><a href="/wiki/Fifth_Party_System" title="Fifth Party System">Fifth</a></li> <li><a href="/wiki/Sixth_Party_System" title="Sixth Party System">Sixth</a></li></ul></li> <li><b><a href="/wiki/History_of_religion_in_the_United_States" title="History of religion in the United States">Religion</a></b></li> <li><b><a href="/wiki/Native_American_genocide_in_the_United_States" title="Native American genocide in the United States">Genocide</a></b></li> <li><b><a href="/wiki/Slavery_in_the_United_States" title="Slavery in the United States">Slavery</a></b> <ul><li><a href="/wiki/History_of_sexual_slavery_in_the_United_States" title="History of sexual slavery in the United States">Sexual slavery</a></li></ul></li> <li><b><a href="/wiki/Technological_and_industrial_history_of_the_United_States" title="Technological and industrial history of the United States">Technology and industry</a></b> <ul><li><a href="/wiki/History_of_agriculture_in_the_United_States" title="History of agriculture in the United States">Agriculture</a></li> <li><a href="/wiki/Labor_history_of_the_United_States" title="Labor history of the United States">Labor</a></li> <li><a href="/wiki/History_of_the_lumber_industry_in_the_United_States" title="History of the lumber industry in the United States">Lumber</a></li> <li><a href="/wiki/History_of_medicine_in_the_United_States" title="History of medicine in the United States">Medicine</a></li> <li><a href="/wiki/History_of_rail_transportation_in_the_United_States" title="History of rail transportation in the United States">Railway</a></li></ul></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Groups" style="font-size:114%;margin:0 4em">Groups</div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><b><a href="/wiki/African-American_history" title="African-American history">African American</a></b></li> <li><b><a href="/wiki/History_of_Asian_Americans" title="History of Asian Americans">Asian American</a></b> <ul><li><a href="/wiki/History_of_Chinese_Americans" title="History of Chinese Americans">Chinese American</a></li> <li><a href="/wiki/History_of_Filipino_Americans" title="History of Filipino Americans">Filipino American</a></li> <li><a href="/wiki/Indian-American_history" class="mw-redirect" title="Indian-American history">Indian American</a></li> <li><a href="/wiki/History_of_Japanese_Americans" title="History of Japanese Americans">Japanese American</a></li> <li><a href="/wiki/History_of_Korean_Americans" class="mw-redirect" title="History of Korean Americans">Korean American</a></li> <li><a href="/wiki/History_of_Thai_Americans" class="mw-redirect" title="History of Thai Americans">Thai American</a></li> <li><a href="/wiki/History_of_Vietnamese_Americans" class="mw-redirect" title="History of Vietnamese Americans">Vietnamese American</a></li></ul></li> <li><b><a href="/wiki/European_American#History" class="mw-redirect" title="European American">European American</a></b> <ul><li><a href="/wiki/History_of_Albanian_Americans" class="mw-redirect" title="History of Albanian Americans">Albanian American</a></li> <li><a href="/wiki/History_of_English_Americans" class="mw-redirect" title="History of English Americans">English American</a></li> <li><a href="/wiki/History_of_Estonian_Americans" class="mw-redirect" title="History of Estonian Americans">Estonian American</a></li> <li><a href="/wiki/History_of_Finnish_Americans" class="mw-redirect" title="History of Finnish Americans">Finnish American</a></li> <li><a href="/wiki/Irish_Americans#History" title="Irish Americans">Irish American</a></li> <li><a href="/wiki/Italian_American#History" class="mw-redirect" title="Italian American">Italian American</a></li> <li><a href="/wiki/History_of_Lithuanian_Americans" class="mw-redirect" title="History of Lithuanian Americans">Lithuanian American</a></li> <li><a href="/wiki/History_of_Poles_in_the_United_States" title="History of Poles in the United States">Polish American</a></li> <li><a href="/wiki/History_of_Serbian_Americans" class="mw-redirect" title="History of Serbian Americans">Serbian American</a></li></ul></li> <li><b><a href="/wiki/History_of_Hispanic_and_Latino_Americans" class="mw-redirect" title="History of Hispanic and Latino Americans">Hispanic and Latino American</a></b> <ul><li><a href="/wiki/History_of_Mexican_Americans" title="History of Mexican Americans">Mexican American</a></li></ul></li> <li><b><a href="/wiki/History_of_the_Jews_in_the_United_States" title="History of the Jews in the United States">Jewish American</a></b></li> <li><b><a href="/wiki/History_of_Middle_Eastern_Americans" class="mw-redirect" title="History of Middle Eastern Americans">Middle Eastern American</a></b> <ul><li><a href="/wiki/History_of_Egyptian_Americans" class="mw-redirect" title="History of Egyptian Americans">Egyptian American</a></li> <li><a href="/wiki/History_of_Iranian_Americans" class="mw-redirect" title="History of Iranian Americans">Iranian American</a></li> <li><a href="/wiki/History_of_Iraqi_Americans" class="mw-redirect" title="History of Iraqi Americans">Iraqi American</a></li> <li><a href="/wiki/History_of_Lebanese_Americans" class="mw-redirect" title="History of Lebanese Americans">Lebanese American</a></li> <li><a href="/wiki/History_of_Palestinian_Americans" class="mw-redirect" title="History of Palestinian Americans">Palestinian American</a></li> <li><a href="/wiki/History_of_Saudi_Americans" class="mw-redirect" title="History of Saudi Americans">Saudi American</a></li></ul></li> <li><b><a href="/wiki/History_of_Native_Americans_in_the_United_States" title="History of Native Americans in the United States">Native Americans</a></b> <ul><li><a href="/wiki/Cherokee_history" title="Cherokee history">Cherokee</a></li> <li><a href="/wiki/Comanche_history" title="Comanche history">Comanche</a></li></ul></li> <li><b><a href="/wiki/History_of_women_in_the_United_States" title="History of women in the United States">Women</a></b></li> <li><b><a href="/wiki/LGBTQ_history_in_the_United_States" title="LGBTQ history in the United States">LGBTQ</a></b> <ul><li><a href="/wiki/History_of_gay_men_in_the_United_States" title="History of gay men in the United States">Gay men</a></li> <li><a href="/wiki/History_of_lesbianism_in_the_United_States" title="History of lesbianism in the United States">Lesbians</a></li> <li><a href="/wiki/Transgender_history_in_the_United_States" title="Transgender history in the United States">Transgender people</a></li></ul></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Places" style="font-size:114%;margin:0 4em">Places</div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Territorial_evolution_of_the_United_States" title="Territorial evolution of the United States">Territorial evolution</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/List_of_U.S._states_by_date_of_admission_to_the_Union" title="List of U.S. states by date of admission to the Union">Admission to the Union</a></li> <li><a href="/wiki/Historical_regions_of_the_United_States" title="Historical regions of the United States">Historical regions</a></li> <li><a href="/wiki/American_frontier" title="American frontier">American frontier</a></li> <li><a href="/wiki/Manifest_destiny" title="Manifest destiny">Manifest destiny</a></li> <li><a href="/wiki/Indian_removal" title="Indian removal">Indian removal</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Regions</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/History_of_New_England" title="History of New England">New England</a></li> <li><a href="/wiki/History_of_the_Southern_United_States" title="History of the Southern United States">The South</a></li> <li><a href="/wiki/History_of_the_west_coast_of_North_America" title="History of the west coast of North America">The West Coast</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">States</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/History_of_Alabama" title="History of Alabama">Alabama</a></li> <li><a href="/wiki/History_of_Alaska" title="History of Alaska">Alaska</a></li> <li><a href="/wiki/History_of_Arizona" title="History of Arizona">Arizona</a></li> <li><a href="/wiki/History_of_Arkansas" title="History of Arkansas">Arkansas</a></li> <li><a href="/wiki/History_of_California" title="History of California">California</a></li> <li><a href="/wiki/History_of_Colorado" title="History of Colorado">Colorado</a></li> <li><a href="/wiki/History_of_Connecticut" title="History of Connecticut">Connecticut</a></li> <li><a href="/wiki/History_of_Delaware" title="History of Delaware">Delaware</a></li> <li><a href="/wiki/History_of_Florida" title="History of Florida">Florida</a></li> <li><a href="/wiki/History_of_Georgia_(U.S._state)" title="History of Georgia (U.S. state)">Georgia</a></li> <li><a href="/wiki/History_of_Hawaii" title="History of Hawaii">Hawaii</a></li> <li><a href="/wiki/History_of_Idaho" title="History of Idaho">Idaho</a></li> <li><a href="/wiki/History_of_Illinois" title="History of Illinois">Illinois</a></li> <li><a href="/wiki/History_of_Indiana" title="History of Indiana">Indiana</a></li> <li><a href="/wiki/History_of_Iowa" title="History of Iowa">Iowa</a></li> <li><a href="/wiki/History_of_Kansas" title="History of Kansas">Kansas</a></li> <li><a href="/wiki/History_of_Kentucky" title="History of Kentucky">Kentucky</a></li> <li><a href="/wiki/History_of_Louisiana" title="History of Louisiana">Louisiana</a></li> <li><a href="/wiki/History_of_Maine" title="History of Maine">Maine</a></li> <li><a href="/wiki/History_of_Maryland" title="History of Maryland">Maryland</a></li> <li><a href="/wiki/History_of_Massachusetts" title="History of Massachusetts">Massachusetts</a></li> <li><a href="/wiki/History_of_Michigan" title="History of Michigan">Michigan</a></li> <li><a href="/wiki/History_of_Minnesota" title="History of Minnesota">Minnesota</a></li> <li><a href="/wiki/History_of_Mississippi" title="History of Mississippi">Mississippi</a></li> <li><a href="/wiki/History_of_Missouri" title="History of Missouri">Missouri</a></li> <li><a href="/wiki/History_of_Montana" title="History of Montana">Montana</a></li> <li><a href="/wiki/History_of_Nebraska" title="History of Nebraska">Nebraska</a></li> <li><a href="/wiki/History_of_Nevada" title="History of Nevada">Nevada</a></li> <li><a href="/wiki/History_of_New_Hampshire" title="History of New Hampshire">New Hampshire</a></li> <li><a href="/wiki/History_of_New_Jersey" title="History of New Jersey">New Jersey</a></li> <li><a href="/wiki/History_of_New_Mexico" title="History of New Mexico">New Mexico</a></li> <li><a href="/wiki/History_of_New_York_(state)" title="History of New York (state)">New York</a></li> <li><a href="/wiki/History_of_North_Carolina" title="History of North Carolina">North Carolina</a></li> <li><a href="/wiki/History_of_North_Dakota" title="History of North Dakota">North Dakota</a></li> <li><a href="/wiki/History_of_Ohio" title="History of Ohio">Ohio</a></li> <li><a href="/wiki/History_of_Oklahoma" title="History of Oklahoma">Oklahoma</a></li> <li><a href="/wiki/History_of_Oregon" title="History of Oregon">Oregon</a></li> <li><a href="/wiki/History_of_Pennsylvania" title="History of Pennsylvania">Pennsylvania</a></li> <li><a href="/wiki/History_of_Rhode_Island" title="History of Rhode Island">Rhode Island</a></li> <li><a href="/wiki/History_of_South_Carolina" title="History of South Carolina">South Carolina</a></li> <li><a href="/wiki/History_of_South_Dakota" title="History of South Dakota">South Dakota</a></li> <li><a href="/wiki/History_of_Tennessee" title="History of Tennessee">Tennessee</a></li> <li><a href="/wiki/History_of_Texas" title="History of Texas">Texas</a></li> <li><a href="/wiki/History_of_Utah" title="History of Utah">Utah</a></li> <li><a href="/wiki/History_of_Vermont" title="History of Vermont">Vermont</a></li> <li><a href="/wiki/History_of_Virginia" title="History of Virginia">Virginia</a></li> <li><a href="/wiki/History_of_Washington_(state)" title="History of Washington (state)">Washington</a></li> <li><a href="/wiki/History_of_West_Virginia" title="History of West Virginia">West Virginia</a></li> <li><a href="/wiki/History_of_Wisconsin" title="History of Wisconsin">Wisconsin</a></li> <li><a href="/wiki/History_of_Wyoming" title="History of Wyoming">Wyoming</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Federal District</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"><a href="/wiki/History_of_Washington,_D.C." title="History of Washington, D.C.">Washington, D.C.</a></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Insular areas</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/History_of_American_Samoa" title="History of American Samoa">American Samoa</a></li> <li><a href="/wiki/History_of_Guam" title="History of Guam">Guam</a></li> <li><a href="/wiki/History_of_the_Northern_Mariana_Islands" class="mw-redirect" title="History of the Northern Mariana Islands">Northern Mariana Islands</a></li> <li><a href="/wiki/History_of_Puerto_Rico" title="History of Puerto Rico">Puerto Rico </a></li> <li><a href="/wiki/History_of_the_United_States_Virgin_Islands" title="History of the United States Virgin Islands">U.S. Virgin Islands</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Outlying islands</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/History_of_Baker_Island" class="mw-redirect" title="History of Baker Island">Baker Island</a></li> <li><a href="/wiki/History_of_Howland_Island" class="mw-redirect" title="History of Howland Island">Howland Island</a></li> <li><a href="/wiki/History_of_Jarvis_Island" class="mw-redirect" title="History of Jarvis Island">Jarvis Island</a></li> <li><a href="/wiki/History_of_Johnston_Atoll" class="mw-redirect" title="History of Johnston Atoll">Johnston Atoll</a></li> <li><a href="/wiki/History_of_Kingman_Reef" class="mw-redirect" title="History of Kingman Reef">Kingman Reef</a></li> <li><a href="/wiki/History_of_Midway_Atoll" class="mw-redirect" title="History of Midway Atoll">Midway Atoll</a></li> <li><a href="/wiki/History_of_Navassa_Island" class="mw-redirect" title="History of Navassa Island">Navassa Island</a></li> <li><a href="/wiki/History_of_Palmyra_Atoll" class="mw-redirect" title="History of Palmyra Atoll">Palmyra Atoll</a></li> <li><a href="/wiki/History_of_Wake_Island" class="mw-redirect" title="History of Wake Island">Wake Island</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Cities</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/American_urban_history" title="American urban history">Urban history</a></li> <li><span class="noviewer" typeof="mw:File"><span title="Category"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> <a href="/wiki/Category:Histories_of_cities_in_the_United_States" title="Category:Histories of cities in the United States">Cities</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td class="navbox-abovebelow" colspan="2" style="font-weight: bold;"><div> <ul><li><a href="/wiki/List_of_years_in_the_United_States" title="List of years in the United States">List of years</a></li> <li><a href="/wiki/Historiography_of_the_United_States" title="Historiography of the United States">Historiography</a></li> <li><span class="noviewer" typeof="mw:File"><span title="Category"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> <a href="/wiki/Category:History_of_the_United_States" title="Category:History of the United States">Category</a></li> <li><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Symbol_portal_class.svg" class="mw-file-description" title="Portal"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/e/e2/Symbol_portal_class.svg/16px-Symbol_portal_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" 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