S3 Ep 4 - The Temin Series - Chapter Two: The FTE Sector

From Bretton Woods to Billionaires: How the 60s & 70s Rewrote America’s Economic Rules

This episode examines the turbulent decades from the 1960s through the 1980s, when social upheaval and political realignment reshaped the American economy. It traces how the Civil Rights Movement and the Vietnam War placed heavy strains on President Johnson’s administration, ultimately contributing to the collapse of the Bretton Woods monetary system.

The narrative then turns to President Nixon’s “Southern Strategy” and the rise of a new conservative movement, spurred by the Powell Memo and the creation of influential think tanks such as The Heritage Foundation and the Cato Institute. This era marked a shift toward deregulation, particularly in finance, and the steady weakening of labor unions. By the time of the Reagan administration, these forces had converged into a neoliberal policy framework that deepened income inequality and continues to shape American economic life today.