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The 1980s (pronounced "nineteen-eighties", shortened to "the '80s" or "the Eighties") was the decade that began on January 1, 1980, and ended on December 31, 1989.. The decade saw a dominance of conservatism and free market economics, and a socioeconomic change due to advances in technology and a worldwide move away from planned economies and towards laissez-faire capitalism compared to the 1970s.
The 1980s (pronounced "nineteen-eighties", shortened to "the '80s" or "the Eighties") was the decade that began on January 1, 1980, and ended on December 31, 1989.. The decade saw a dominance of conservatism and free market economics, and a socioeconomic change due to advances in technology and a worldwide move away from planned economies and towards laissez-faire capitalism compared to the 1970s.
The National Bureau of Economic Research declared the end of this recession over a year after the end date. [79] The Dow Jones Industrial Average finally reached its lowest point on March 9, 2009. [80] COVID-19 recession: February 2020 – April 2020 [81] [82] [83] 2 months 10 years 8 months 14.7% (April 2020) [84] −19.2% [85]
Construction declined by a similar 300,000. Unemployment rose to a recession peak of 7.8% in June 1980, however, it changed very little through the end of the year, averaging 7.5% through the first quarter of 1981. [8] The official end of the recession was established as of July 1980. [1]
These actions accelerated the end of the Cold War, which occurred in 1989–1991, as typified by the collapse of communism both in Eastern Europe, and in the Soviet Union, and in numerous Third World clients. The economy was in recession in 1981–1983, but recovered and grew sharply after that.
Timelines of world history; List of timelines; Chronology; See calendar and list of calendars for other groupings of years. See history, history by period, and periodization for different organizations of historical events. For earlier time periods, see Timeline of the Big Bang, Geologic time scale, Timeline of evolution, and Logarithmic timeline
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The early 1980s recession was a severe economic recession that affected much of the world between approximately the start of 1980 and 1982. [2] [1] [3] Long-term effects of the early 1980s recession contributed to the Latin American debt crisis, long-lasting slowdowns in the Caribbean and Sub-Saharan African countries, [3] the US savings and loan crisis, and a general adoption of neoliberal ...