Economic conditions in the U.S are thought to have been worsening over the past several decades before 1972. This is generally reflected by rising prices of various products in the past few years. With a high unemployment rate becoming one big problem in America, the standard of living is has been worsening. The aim of this essay is to examine the economic conditions of the U.S. based on the information obtained from an interview with my great grandfather born in 1952.
My grandfather acknowledges that the prices of almost everything have increased many times more than what it was in the 1965. He says that for instance, in 1965, the cost of kitchen towels was $1 for 5 rolls, firestone tire was $ 22.95, roadmaster bike was going at $ 34.77 in Washington in 1964. In addition, chalk and blackboard set was sold as cheap as 99 cents in Ohio in 1962. The price s of these items and many others has escalated over the last few decades and what with worsening economic conditions in America.
The economy of America has changed so much compared to what was seen in the 1960s. With waned influence of organized labor in factories witnessed in the 1960s and 1960s, unemployment has become a big problem. The population increased several times since then leading to scramble for a reduced quantity of agricultural products whose prices have now shot almost ten times. Affording accommodation in America is currently very difficult since many more bills have been added such as for internet, gym, and refrigerators and security mechanisms. Unlike during the 1960s, rent is now ten times dear. For example a flat in downtown Las Vegas, California was $200 in the 60s but has escalated to more than $1000 a month.
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Generally, the standard of living in the US has deteriorated in this 21st century especially due to decline of older industries especially established around 1945 to pave way for high-tech industries. Hence, the workers employed in manufacturing have greatly decreased leading to joblessness. Due to eruption of many technologies such as GMOs and other industries that emit poisonous gases and radiations, the health conditions of America have deteriorated. In my opinion therefore, the standards of living is worse than what was there in the 1960s and there is little hope of correcting the situation now.