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The 1970s crisis in the U.S., marked by economic challenges such as stagflation, energy shortages, and rising unemployment, led to a significant shift in economic policy and political sentiment. The crisis prompted the abandonment of Keynesian economics in favor of supply-side policies, culminating in the election of Ronald Reagan in 1980. Additionally, it fostered a growing skepticism toward government intervention and a focus on free-market solutions. This period also saw increased social unrest and a re-evaluation of America's role in the global economy.

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