American Decades

Important Events in Business and the Economy, 1970–1979

U.S. businesses spend $5.7 billion on computers.
Advertisers spent $3.6 billion on television commercials.
On January 1, U.S. consumer debt is $127 billion.
On January 1, Americans own 89 million cars.
On January 14, the U.S. Department of Justice indicts seven firms for polluting the New York harbor.
On January 19, inflation reaches 6.1 percent, the highest since the Korean War (1950–1953).
On January 28, Ford, Nissan, and Tokyo Kogyo form a joint venture to manufacture auto transmissions.
On February 28, the January economic indicators fall by 1.8 percent, the worst monthly decline since the 1957 recession.
On March 1, Westinghouse and four unions reach a contract raising wages 15 percent.
On March 25, the first postal workers' strike in U.S. history ends after seven days.
On April 1, Congress bans cigarette advertising on radio...

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