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11 Cards in this Set

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*Monetarism
Economic theory to transform ways of thinking

Idea that rates of inflation can be controlled by controlling foreign country supplies

Wedded to conserative politics and belief that minimum amount of tinkering money supply was only thing needed to help economy while assuming overregulation was detrimental to markets





Economic theory

Miltan freedman

economic philosophy that became wedded to conservative politics



a whole bunch of economists from Chicago came up with theory that this cause of inflation and all of the problems that people were having over the 70's were over regulation.. and they said..
if we just monitor the money supply and let markets do everything else, we are going to solve all of our problems!

(this bit us in the ass in 2008)
*New Right
Reagan was successful because he could pick up on larger themes and resentments that nixon didn't fully address.
-able to bring people together
-Created new right coalition because not all connected before

Includes old guard conservatives (Northeast) join former democrats

Southern and western former democrats support race and tax issues
Working class people critical of government handouts and loose morals
Neoconservatives (former liberals that became disenchanted with liberal programs and spoke out for conservatism more than others)
Getting conservatives together
*New Class
Cultural explanation coming from conservatives that denied class differentiation in US

New class idea focused on knowledge and symbolic workers (professors, tech workers, media workers, people creating knowledge and culture and not things and wealth

Rootless in system of production

own no property or labor and have intellectual knowledge to be wealthy

Tied to environmentalism, welfare state, and consumer movements

They would exaggerate social problems to get more state benefits

Believed people only motivated by self-interest

Government as public good is evaporating
*Proposition 13
originated in california

the beggining of tax revolt that really transforms America by late 70's

-Originated in California and it was approved as a ammendment to constitution of california by means of a balled initiative.

Maximum amount of tax can't exceed 1% of value with inflation not exceeding 2% per year

mainly designed to protect elderly people. and it served to decrease taxes.

Lowering taxes was popular to everyone. Especially in California.

This revolt against property taxes lead to revolt against taxes in general.

Tied to racial conflicts, morality conflicts
Declining sense of being responsible for one another
Not wanting to pay for government
*"Trickle down economics"
Related to reagans theory that if the wealthiest people were given the opportunity to expand, build their business, then that growth would ultimately benefit everybody and boost the economy.
*Bakke Case (1978)
This was a decision that was challening affirmative action in 1978

conclusion: race could still be considered in college admissions but the quotas were not permissible.

It tied into this market logic that every individual should have an equal opportunity.
*Phyllis Schafly
catholic conservative women and starting in 1970's created a movement to battle the passing of equal rights amendments. (one of the great movements of the women's movement) she argued that equal rights amendment would hurt women because it would deny them of necessary protections.

Her movement did stop the passing of the ERA
*Operation Rescue
first created in 1987


goal was to speak out against abortion and seeing it as a dire threat to Christian order

They used pickets and some resorted to violence.
*Yuppie
its a play on yippie.

Motivated by wealth. Bringing money making as a new ideal of what an american was.


Ex: Jerry rubin goes from dropping money on stock market as joke then becomes a stock broker
*Allan Bloom
Wrote: the closing of american mind 1987

this book was tied into debates about multi culturism particularly in universities there was a sense that we were losing a common core of a common culture. young people werent reading the great classics anymore. This was seen as a shattering of a tradition.
Culture wars
Challenges in women's movement and civil rights and challenge existing social order brought by women and minority