Rising Prices of the 1970s Recessionary Squeeze, created huge Wage Disparity increasing the gap between Rich and Poor

The 1970s saw recession and rising prices. The gap between the rich and the poor was growing and some would say this was an inevitable consequence of a consumer-driven profit-hungry free market.

The growing wage disparity led to social unrest with many blaming the fat-cat bankers for the economic malaise. In particular, the young were feeling disenfranchised and forgotten.

There was increasing talk of a lost generation with young people facing very bleak prospects.

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