1980s Foster

Sun Belt vs

The Sun Belt refers to the southern/southwestern states where many workers migrated due to economic opportunities, while the Rust Belt was the northeast with rundown factories and high unemployment.

Gentrification

The process of revitalizing urban areas by wealthier individuals moving in, leading to increased property values but also making it more expensive for others.

Reaganomics

Ronald Reagan's economic policies focused on cutting taxes, increasing defense spending, and implementing supply-side economics to stimulate economic growth.

Trickle-down economics

The theory that cutting taxes for the wealthy and corporations will lead to economic benefits for all by stimulating investment, job creation, and overall economic growth.

Monetarism

An economic theory advocating for controlling inflation by adjusting the money supply, often through interest rate changes, as proposed by Milton Friedman.

Deregulation

Reagan's policy of reducing government regulations in various sectors like oil, gas, airlines, and environmental protections to stimulate competition and economic growth.

Perestroika and Glasnost

Introduced by Gorbachev, Perestroika aimed at restructuring the Soviet economy, while Glasnost promoted openness, allowing more freedom of speech and religion.

Yuppies

Young urban professionals who emerged in the 1980s, characterized by their materialistic lifestyles and focus on career success and wealth display.

Discount retailing

A new form of retail exemplified by stores like Walmart, Target, and Kmart, offering lower prices and a wide range of products to attract customers.

Live Aid

A charity event featuring a live concert in London and Philadelphia to raise funds for the famine in Ethiopia, showcasing the power of music for social causes.