The 1970s Were Incredibly Unkind To The Music Industry

miIn 1972 President Richard M. Nixon also abandoned his free trade principles and levied a 10% tax on all imports and sharply devalued the U.S. currency. A year later, he further devalued the currency, dramatically altering the course of international trade. For U.S. manufacturers, the devalued dollar was a bonanza that spurred export sales. Between 1973 and 1978, U.S. music exports surged from $38.3 million to $122.7 million. By contrast during the same period, U.S. music imports declined slightly, from $101.3 million in 1973 to $96.8 million in 1978.

Nixon’s devaluation sent the Japanese yen from 360 to the dollar to 250, forcing Japanese manufacturers to restructure their businesses or perish. Between 1973 and 1975, scores of Japanese guitar makers did fail as the country’s unit output sagged from 1.2 million to 725,000. Those firms that survived did so by …

A Story About The Booze

asbbJack and his girlfriend Becky lived in a college town. One Saturday night they decided to crash a fraternity party on campus. A band was playing, a couple of beer kegs were on tap, and no one was checking IDs.

After a couple of beers, Jack and Becky felt relaxed and started dancing. An hour later, fortified by more beers, they were still at it. During one of the songs, one of the fraternity brothers cut in and started dancing with Becky. After a few minutes, Jack became furious. He exploded and slugged the guy. By the end of the fight, Jack had a bloody nose and a loose tooth, and he stormed out of the fraternity house dragging Becky behind him.

Jack was still mad, yelling at Becky, yelling about the guy, half watching the road as they drove …

1970s, Inflation, Madness

hiaHunger in America was “discovered” (at least as a political issue) by Sen. Robert Kennedy and former Sen. Joseph Clark as they visited the rural South. In Paris the Super-Marche de Poche opened in Paris. The store was fully automated and shelves were automatically restocked.

In his 1968 State of the Union address on Jan. 5 President Johnson called for a 10% income tax surcharge to offset a budget deficit estimated at $20 billion. On March 31 Johnson announced he would not seek re-election. Observers believed the burden of Vietnam was too much for the President.

On March 28 violence erupted in Memphis following a civil rights march led by Dr. Martin Luther King. King vowed to return to the city in April. He kept that promise and was assassinated on April 4. Seven days later President Johnson signed the …

Britain And Pacifism

bapAll over Britain, in city squares, on village greens, in town halls and school assembly rooms, stand the war memorials, inscribed with the wretchedly long lists of the first world war dead, then with the shorter lists of the second world war. Sometimes there are additions, sharp and clean in newly cut stone: the names of those who died yomping through the Falklands mud or were sent back in bodybags from Operation Desert Storm.

Generation after generation, Britain’s youth has fought and died. Yet one generation is missing from those seemingly inevitable lists: those who were of fighting age in the 1960s and 1970s. They were not called upon to fight a war and in all probability they would have refused to do so. The reaction against the Vietnam war of those who would have constituted the “officer class” demonstrated …