3.1 Out of Crisis: Innovations in the 1980s and Beyond

3.1 Out of Crisis: Innovations in the 1980s and Beyond

Last time, we saw that the Social Contract served the economy and workforce well from the 1950s through at least part of the 1970s. Many people thought this was the new normal and that things would stay this way forever. But they didn’t. Below, let’s look at what business, labor, and government leaders missed. The 1980s were a critical decade in the history of work – it marks the period when the “social contact,” discussed in earlier videos, began to decline. In the video below, Professor Kochan examines the 1980s and explains its enduring relevance to the issues we face today.

Video: What Changed in the 1980s And Why Should We Care?

Attentiveness Question 1

 Ronald Reagan was elected president.  check
 Global competition  check
 A recession  check

Attentiveness Question 2

 Strikes and pattern bargaining lost their influence  check
 Unions refused to work with new, high-tech companies  close

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