2. What is a “Go-Go” economy? Was the U.S. economy in the 1980s a “Go-Go” economy?
Explain.
A Go-Go economy is such an economic situation when fast growth happens. Many businesses
grow fast and capital can easily be obtained. The boom phase can be identified in this economy.
The term is used to explain a period of financial or business development which is especially
rapid and active (Wasserman & Watt, 1981). The U.S economy was not at all a go-go economy
at the 1980s. Though the Reagan initiated in several economic programs for the reduction of the
marginal rate of taxes for encouraging longer work hours, which in turn resulted in production as
well as stimulation of the entire economy, the entire economy endured to a deep recession
through 1982.
In contrast with the previous year, company bankruptcies rose 50%. As exports of farmers
moved, crop prices decreased and interest rates rose, farmers were particularly hitted (Jayadev,
Mason & Schröder, 2018). Nevertheless, the recession, coupled with falling oil prices and the
close control of cash and credit by the Federal Reserve, helped to reduce fluid inflation. The
economy had rebounded by 1983 and the United States had been one of the longest cycles of
sustainable economic growth following World War II. From 1983 to 1987, the annual inflation
rate stayed below 5%.
3. Who were the “Culture Warriors”? Assess their impact on the U.S. during the 1980s.
"Cultural war" in the United States refers to the claim that these Conservative and Liberal values
lie in conflict. It began in the 1920s when rural and urban values of America were in some class.
By the 1980s,' social history' had evolved into' cultural history,' taking its approach to symbolism
and language more than social structures from many Anthropologists of the middle of the
twentieth century. But cultural history then fought hard to lay the foundation for the historic

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