For the first time ever, instead of paying cash for what people wanted or needed, they created not only store charge cards, but Visa, Mastercards, Diner's Club etc, which allowed everyone to change their buying habits from needs to wants. Society suddenly became the now generation.
The influx of television in the 1960's changed how we viewed what we needed. Suddenly we were being told over and over again by advertisers that our lives were not complete without this or that so our buying and spending habit changed drastically.
Because of the advent of the Pill in the 1960's, women were able to delay childbirth. More and more were attending college and not to just find a suitable husband as they had in the past, but to get a degree in which they could make a living. The young generation had seen that women could successfully hold down jobs during WWII and Korea and the pill allowed them to be married and yet wait untill they were ready for a family. It was acceptable to see women in the workplace and not just in pink collar positions.
The economy was expanding so fast that it was hard to keep up. During the late '40's the men came home from war and gave birth to the Baby Boomer generation which was the largest increase in population in the history of the United States. These were the indulged children who were given everything because America had proven itself a powerhouse in 2 World Wars and Korea. We survived when John Kennedy was Shot, Martin Luther King, Jr., and Malcom X. This was the generation that demanded and got change in the heart of the United States.
Becuase the social mores had loosened so much, ie. you did not have to get married to be together. You could get a divorce and your family still accepted you, the economy also went through growing pains. Companies were no longer satisfied with making one product or being the best at one thing, they went after one another if they saw any sign of weakness. This was especially prominent in the 80's. The spoiled children who had to have everything now in the 60's now had to buy up everything (other companies) in the 80's, sometimes they kept them, sometimes they just raided them and left a shell behind empty and falling apart.
You also need to talk about the distrust of the Government. The young adults of the 60's did not trust the government and with good reason - Vietnam, Watergate, Nixon's resignation, smooth talking Reagan and Reaganomic's. The breakup of AT & T, the selling of cell tower technology for so cheaply, the overpricing of the military, the sarcasm on Television with Saturday Night Live, the original Cast, Mary Hartman, Mary Hartman, the breakup of the nuclear family.
The relaxation of the Banking Laws which is really why we are faced with the crisis we have today, bargain basement credit, letting foreign nationals take over our industries without a word or a whimper such as steel, automobile, coal, etc.
There should be more than enough points here if you look into them and break them down even more. These were just off the top of my head. Also do not forget the impact of Roe Vs Wade which changed everything for women.
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