Premium Essay

Nixon's New Economic Policy

Submitted By
Words 477
Pages 2
In the year of 1969, when Nixon took office, the unemployment rates were very low. They were 3.3%. Advisers saw this as a overheating economy. Inflation, the rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of currency is falling, was a big problem at this time also. Nixon entered the congressional campaign season along with unemployment, inflation, and Democratic demands for an "incomes policy" to check fluctuating prices and wages. Some demanded wage and price controls. The downfall of this event was Republicans gained two seats in the Senate but lost nine in the House. Nixon blamed this on economy.By the middle of 1971, unemployment was 6.2 percent while inflation was unchecked. Nixon decided his administration needed a single economic speaker and chose Treasury Secretary John Connally as the spokesman. He spoke in terms of disregarding everything economy asked for (mandatory price and wage controls...). On …show more content…
The NEP violated most of Nixon's longest economic principles, but he never let principle stand in the way of politics. The federal government played a big role in preventing on-the-job accidents and deaths when Nixon in 1970 signed into law a bill to create the Occupational Safety and Health Administration (OSHA). Later that year, concerns about the environment led him to propose an Environmental Protection Agency (EPA) and a National Oceanic and Atmospheric Administration (NOAA), and to sign amendments to the 1967 Clean Air Act, for reductions in automobile emissions and the national testing of air quality. Other important environmental legislation during Nixon's presidency included the 1972 Noise Control Act, the 1972 Marine Mammal Protection Act, the 1973 Endangered Species Act, and the 1974 Safe Drinking Water

Similar Documents

Free Essay

In the Context of the Period 1825-1937, to What Extent Was the First Five Year Plan (1928-1933) the Most Successful Change to Russian Economic Output?

...perhaps the most decisive turning point in the history of the country of Russia. While the NEP system was not formally repudiated, official policies increasingly came to contradicts fundamental assumptions. The first five year plan (1928-1933) could be construed as a general success even though it did have its moment of failure. The first five year plan was introduced in Russia in an attempt to catch up with the more advanced west. As Stalin said 'We are fifty or a hundred years behind the advanced countries. We must make good this distance in ten years.' The focus of the first five year plan on heavy industry made huge strides in modernising industry and increasing output, in that 'Coal, iron, and the generation of electrical power all increased in huge proportion’s and Russia felt it could compete again on a scale with its western rivals. However, despite overarching economic development, many of the targets set by central panning didn't consider the quality of products or waste of materials and on reflection, highlight a number of fundamental flaws in the measurement of success of the first five year plan. Stalin's idea of collectivisation forced the peasants to move to a commune, share the livestock and equipment whilst having to give the government their share of the revenue. 'The government figured that new technology and new farming machines, would allow mass production of food without the large amount of workers that was needed before'. Collectivisation was therefore...

Words: 3975 - Pages: 16

Premium Essay

How Did Richard Nixon Influence Government

...Richard Nixon’s presidency is invariably connected to the Watergate scandal, because of its effect on the public’s view of the presidency and government. It is hard to forget one of the most massive instances of government corruption and dishonesty that stemmed from the president himself. Nixon was known as a politician that would do whatever it takes to achieve his political goals and eliminate his competition. He came into the presidency when the U.S. was in a time of cultural and political conflict, so he appealed to a silent majority in order to win votes. Despite Nixon’s success in foreign and environmental affairs, his presidency was overshadowed by his domestic policies and the Watergate scandal. Emerging from the 1960’s, the Nixon’s era was characterized by conflicting political and social movements and deteriorating economic and environmental conditions. Nixon was elected because of his image as a steady Republican candidate amid disarray within the Democratic party. President Lyndon B. Johnson decided not to seek reelection, and Vice President Hubert Humphrey’s campaign was ruined by protests. In addition,...

Words: 1390 - Pages: 6

Free Essay

Richard Nixon's Energy Policy

...Click here for Full Issue of EIR Volume 4, Number 19, May 10, 1977 ENERGY Watergate In A New Persp-ective Richard Nixon/s Energy Policy To convince especially Republicans to rally behind the tion spokesmen and press conduits are claiming that Car­ ter's program is really "a more developed version" of Nixon's energy policies. The key difference now, goes the Carter Administration's anti-energy policy, Administra­ Nixon officially ended the method of market demand pro­ rating of the federal off-shore leases, which immediately opened up the offshore areas for massive exploration and production. The independents had publicly been demand­ ing this action; Atlantic Richfield and Phillips Petroleum had just testified to the Senate Interior Committee on the dependents with new oil reserves. Nixon backed up his action with an Interior Department report which estima. ted potential offshore reserves of oil at 200 billion barrels and 850 trillion cubic feet of gas. Such a large amount of oil in the hands of the indepen­ dents threatened Rockefeller control over oil supplies, as immediately after Nixon's action, well as threatening to bring down world prices. Almost environmentalist necessity of expanding offshore drilling to provide the in­ I line, is that Carter, an able strong leader, will be able to implement the program that the incompetent, crooked Nixion could not. James Schlesinger's assistants are leaking to reporters that "President Carter's energy pro­ gram is the product...

Words: 2233 - Pages: 9

Premium Essay

Nixon's Economic Boom

...On August 15, 1971 President Nixon put into effect Execute Order 11615, this order was a massive event in United States economic history because it put into effect the end of convertibility of U.S. dollars into gold. Prior to Nixon ending the gold convertibility, the world ran on the Bretton Woods Monetary System. The Bretton Woods Monetary System made it so that all U.S. currency held outside the country was redeemable at the rate of $35 an ounc. Although, this system was slowly deteriorating and by 1971 debts were being paid off and causing massive inflation of the U.S. dollar, Nixon had no choice but to try and keep our economy afloat. By unpegging the U.S. dollar to gold Nixon created a regime in which currency was a free-floating commodity. Ten days prior to the Nixon’s executive United States executive order the United States Congress released a reports suggesting the devaluation of the dollar. Congress was worried that since the United States lacked the gold to back the foreign banks dollar supply, there would be a run at the U.S. gold and lead to a financial meltdown. Most historians feel that President Nixon did not have a choice in the matter, the Vietnam War was being financed by deficit spending, and domestically rising inflation was a major concern for the President who was coming on a re-election year. The biggest result that came of Nixon ending the convertibility of dollars into gold was that it greatly benefited countries that held large gold reserves...

Words: 944 - Pages: 4

Premium Essay

How President Nixon Enacted Foreign And Domestic Policy Essay

...enacted foreign and domestic policy Identify key political events that impacted the Presidency during this time period Identify the impact the economy had on America Identify key events in the birth of the Environmental Movement President Nixon at Home and Abroad President Richard Nixon pushed conservative policies. President Nixon wanted to limit power of the federal government by introducing revenue sharing. Revenue sharing allowed local and state governments more freedom to spend federal aid. Nixon wanted to reform social welfare, but his plan failed to pass Congress. At first Nixon worked with Congress, which Democrats controlled. Soon he refused to spend money voted by Congress on programs that he did not approve of. The Supreme Court ruled President Nixon's actions unconstitutional. President Nixon began a policy of law and order by enlisting the CIA and IRS to harass the liberals and dissidents that he considered...

Words: 1384 - Pages: 6

Premium Essay

Essay I

...Lesson 13 Essay I The years that stretched from the election of Richard Nixon in 1968 to the election of Ronald Reagan in 1980 saw the problems of the 1960s come back to haunt the nation. In Vietnam, despite Nixon's efforts to conclude a "peace with honor," the American involvement ended with the victory of the North Vietnamese and a defeat for the United States. The moral authority of the powerful presidency that developed under Eisenhower, Kennedy, and Johnson eroded as a result of Nixon's Watergate scandal. In an effort to avoid similar mistakes, the voters turned out Nixon's successor, Gerald Ford, in 1976 and elected a political newcomer, Jimmy Carter, of Georgia. In spite of their personal decency and hard work, neither Gerald Ford nor Jimmy Carter proved to be strong, effective presidents who could meet the challenges of the 1970s. Ford was the 38th President of the United States, and the only one to have served as both President and Vice President without being elected by the Electoral College. As President, Ford signed the Helsinki Accords, marking a move toward détente in the Cold War. With the invasion of South Vietnam by the communist north nine months into his presidency, U.S. involvement in Vietnam essentially ended. Domestically, Ford presided over arguably the weakest economy since the Great Depression, with growing inflation and a recession during his tenure. One of his more controversial acts was to grant a presidential pardon to President Richard Nixon...

Words: 1518 - Pages: 7

Premium Essay

Richard Milhous Nixon, Perspectives on the Presidency

...innovative thinker and developed intricate strategies that would give him a bold portrayal. Although he had an undeniable amount of knowledge, he displayed many negative characteristics within his personality and views in regard to his power. Spending long nights alone, Nixon would evaluate problems, correlate the information and develop a very plausible solution. Regarding Richard Nixon and the notion of presidential power, he implemented some beneficial uses, however several examples of abuse. He would sometimes even act on issues without seeking approval or guidance from congress. Nixon used unjustified means in order to accomplish his tasks, thus sparking much debate concerning the extraordinary power of the United States President. Nixon’s personality can be described as paradoxical and flawed. His childhood was difficult to say the least and it made an everlasting impact on the way he conducted himself. Although his intelligence spanned an array of areas, his emotional intelligence was very poor. This troubled man exploited his presidency in a very controversial and complex manner that resulted in his resignation. “Richard Nixon is an absolutely sinister human being, but fascinating”(Genovese 161). He acted on his...

Words: 2107 - Pages: 9

Premium Essay

Nixon and China

...further exacerbated the situation. The next twenty years were characterized by American opposition to UN membership for Mainland China, three crises between the two nations in the Taiwan Straits, threats of nuclear attack, and the fighting of a proxy war in Vietnam. But the two decades of hostility and nonrecognition of the People’s Republic of China was brought to an end during President Richard Nixon’s administration, marked most prominently by Nixon’s historic visit to Mainland China in 1972. In ending this hostile estrangement, Nixon thus executed the first stage of a momentous diplomatic revolution in U.S. policy towards Communist China. This turning point, as Nixon and his National Security Adviser Henry Kissinger suggested, also “changed the world” by transforming a Cold War U.S.-Soviet bilateral international system into a tripolar one, in which powers are balanced and national interests are secured. In the process of the rapprochement, President Nixon, managed to show the world his sound judgment, pragmatic perspective, and negotiation strategy in the field of foreign affairs. Nixon’s early political career was built upon anticommunist foundations. After being elected as a congressman from California in 1947, he worked on the Herter Committee, which undertook a study tour of Europe to prepare the Marshall Plan, in which the ideological goal was anti-communism. During his subsequent time in Congress, Nixon was known as a dedicated...

Words: 3966 - Pages: 16

Free Essay

Frankestain

...turned in should restate the discussion item and identify the chapter under review. All answer sheets should be typed double-spaced with standard 1” margins on all perimeters. All segment discussion items MUST be received before the end of class on each segment review date. NO EXCEPTIONS WILL BE MADE. 1. (A) Why was Richard Nixon NOT considered to be a ‘true’ conservative? (B) What constitutes a “Block Grant” as proposed by President Nixon? (C) What were the essential elements in Nixon’s proposed Family Assistance Plan and what were the legislative results? (D) What was Nixon’s Philadelphia plan? (a) Against the wishes and recommendation of the myopic conservative leadership in the late sixties Nixon expanded the welfare state and moved to improve relations with the Soviet Union but most of all he also opened up a dialogue with China. Instead of shrinking the federal bureaucracy as they hoped he would do Nixon infuriated his conservative base by creating a host of new federal agencies such as the Environmental protection Agency, the Occupational Safety and Health Administration, the National Transportation Safety Board. He further alienated conservatives with his support for the Endangered Species Act and the Clean Air Act. (b) A block grant is a large sum of money granted by the national government to a regional government with only general provisions as to the way it is to be spent. This can be contrasted with a categorical grant which has more strict...

Words: 4092 - Pages: 17

Premium Essay

Richard Nixon Influence

...S. president to engage in foreign affairs with the most powerful communist countries, China and the Soviet Union. He negotiated an end to the Vietnam War and made a breakthrough with the SALT agreement with the Soviet Union. Towards the beginning of his second term he ruined his career with a scandal known as Watergate. All of the foreign policy negotiations and accomplishments that Nixon made in his five years of office was, unfortunately, masked by Watergate. When Richard Nixon took office in 1969, The United...

Words: 1860 - Pages: 8

Premium Essay

Pardon of Richard Nixon

...Controversial Pardon of Richard Nixon HIST102 American History Since 1877 Instructor: 22 February 2014 Former President Richard Nixon is most well-known for his role in the Watergate crisis in the early 1970’s. The Watergate crisis started in June of 1972, when the Democratic National Committee (DNC) headquarters was broke into by members of Nixon’s re-election committee. The press took this breaking news and began to dig deeper into what the Whitehouse (President Nixon) was hiding. Over the next two years heavy investigations into the Watergate incident revealed that President Nixon did, in fact, ordered a cover-up to keep the incident under control. Fearing impeachment, President Nixon resigned his presidency in August 1974, leaving Vice President Gerald Ford as the new president. Although Ford’s first act as president, granting a full pardon to Nixon, caused heavy controversy in the political and legal sectors; his decision was within his constitutional rights as president and in the best interest of the Americans public. Immediately following Ford’s pardon of Nixon critics, such as Philip Kurland, Edwin Firmage, and R. Collin Mangrum began to protest that Ford did not have the constitutional right to “issue a pre-trail pardon.”1 Kurland was believed that a pardon was meant to lessen the harshness of punishment for the accused; however, that is only the case if the judicial system worked.2 Firmage and Mangrum believed that the framers of our constitution did not...

Words: 1178 - Pages: 5

Premium Essay

The Nixon Doctrine of 1969

...The Nixon Doctrine of 1969 Kerri Richards POL 300 November 11, 2012 Revision made 12/9/12 The Nixon Doctrine was an American foreign policy set forth by President Nixon in 1969. It was also known as the Guam Doctrine for the country in which it was announced. The strategy of the Nixon Doctrine allowed Nixon to devise a way for the United States to exit that very unpopular conflict, the Vietnam War. It also stated that the United States would provide aid to its allies in times of need. A reassessment of American foreign policy, and a move to the era of negotiation was a must. Nixon needed to first extricate the country’s forces from Vietnam. Secondly, the country needed to ease the overall tension in Berlin and the Middle East. Thirdly, according to domestic ideological demands, and due to the increasingly threatening possibility of a surprise attack, nuclear arms controls had to be carried out. Removing these problems would remedy the damage done in such a period. The problem was to figure out how. The existent schools of diplomacy did not suggest a favorable method. Nixon’s foreign policy advisors decided not to stick on preceding principles or theories, but adhere to only one basic priority, National Interest. This doctrine tried to adjust the degree of U.S. intervention in various regions by adopting three criteria in its diplomatic decision: - The United States would keep its treaty commitments - The United States would "provide a shield if a nuclear power...

Words: 2362 - Pages: 10

Premium Essay

Evolution Of Political Parties

...In fact, during the second half of the 20th century, people started to favor the Republican Party. As it preferred lower levels of taxation and spending, fewer government regulations, and worked to eliminate redundant social programs. Richard Nixon’s “Southern Strategy” ended the democratic ages. With a few decades during the 1980s, Republicans added religious conservatives who fought against gay rights and abortion and working white class, the majority of Nixon’s years continued to support their policies. The Democrat’s vision never changed. By 2008 when Barack Obama, a Democrat, was elected president, there were hints that Republicans were regaining strength. Then, in 2016 when Donald Trump, a Republican, was elected president both chambers of Congress were and are Republican. America is one of just a handful of first-world nations with a two-party system. Over time our nation has changed in many ways and made it to the party-system we have today, Democratic and Republican Parties. These two parties are very different from the ones we had years ago but retained few of the beliefs of the original parties. These...

Words: 1164 - Pages: 5

Free Essay

World War Ii Through the 1970’s

...Assignment 3: “World War II Through The 1970’s” Joseph L. Carter History 105 June 11, 2012 Professor Everett Hardy Strayer University Delaware County Campus Analyze the facts that war and propaganda had on American society World War 2 and the 1970’s. Looking at the history of the United States, never had the country seen such dramatic changes in the social, economic, and political structure that happened at the end of World War II. Multiple events throughout this period guided the direction of the United States government and the attitudes of Americans. This paper will provide a look into the evolution of the United States by analyzing the most significant events in the five decades after World War II. The 1950s brought about a new look into the foreign affairs for the United States government and the American people. After the victory of World War II, two allies of the war, the United States and the Soviet Union became bitter enemies that tried to secure a position of world leader. The Soviet Union had its Communist Manifesto that according to the Decades Project (1999) website stated, “a mission statement that provides that communism requires a world revolution and the destruction of capitalism in order to succeed”. This was a direct threat to the American Way of life, and started the beginning of the Cold War. With different ideals and hunger for power, both sides began to build up military strength, especially...

Words: 1643 - Pages: 7

Premium Essay

Impact of Us Foreign Policy on the Vietnam War

...Impact of US Foreign Policy on the Vietnam War The Vietnam War is one of the most talked about wars in history. It began in 1959 and did not end until 1975. These years saw protests, conflicts, casualties, and confusion for the United States, as well as the terms of three presidents: John F. Kennedy, Lyndon B. Johnson, and Richard Nixon. When U.S. involvement in the war began under Kennedy, it was originally put out as a plan for the United States to only aid the South Vietnamese, but, after his assassination, Johnson was put in charge. The path that the war took under Johnson was filled with controversy and large numbers of casualties. When Johnson did not run for a second term, Nixon was left in charge to ultimately turn things around. Soon, all of the American troops were removed from Vietnam, and the war slowly began to come to a close. But what was it about Nixon’s foreign policy that was so much more successful than Johnson’s? Was Nixon’s policy more closely related to Kennedy’s successful strategy than Johnson’s was, and, if so, why didn’t Johnson do a better job modeling his policy after Kennedy? These are all questions that political scientists still look at today as a way to solve the many questions that are still being posed about the war. I have looked deeply into these questions, and found answers through researching the history of Vietnam as well as the three presidents. As I read about each event that unfolded, it became clear to me why there were such...

Words: 3614 - Pages: 15