Inflation and unemployment were the major factors that led to the downfall of liberalism in the late 1970s.
Why did liberalism fail in the United States?
Liberalism was under rule in the American society until late 1970s, when conditions of inflation and unemployment hit the nation. Inflation rose to a record 10 percent during this period.
United States went in a period of recession, as many American lost jobs, developing an unemployment in the country due to unavailability of jobs.
Hence, it may be stated that inflation and unemployment led to the decline of liberalism in the American society during the late 1970s.
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