Continue Reading. Mike Moffatt is an economics writer and instructor who has written hundreds of articles and taught at both the university and community college levels. In what ways did international events impact the crisis?
Voters held Washington politicians responsible for the economic state of the country. Although some economists were nervous that heavy government spending and borrowing would lead to steep inflation, the Federal Reserve succeeded in its role as an economic traffic cop during the s.
The bank had first approached failure in Julywhen the Penn Square Bankwhich had partnered with Continental Illinois in a number of high- risk lending ventures, collapsed.
More often than not, immigrants are less educated and their incomes are lower at all ages than those of natives. As a result, interest rates rose to levels not seen since the Civil War.
However, in some ways yuppiedom was less shallow and superficial than it appeared. Tax Cuts. Three special issues are discussed in the final portion of the Survey: the socio-economic attainment of women; the early identification, analysis and monitoring of world economic developments; and selected demographic indicators.
Business bankruptcies rose 50 percent over the previous year.
Reagan's tax cuts did end the recession. However, the fiscal impact varies widely at the state and local levels and is contingent on the characteristics of the immigrant population — age, education, and skill level — living within each state.
This greater specialization leads to a more efficient allocation of labor, raising the incomes and productivity of both natives and immigrants.