Money and Inflation 1970's
To provide an estimate of inflation we have given a guide to the value of $100 US Dollars for the first year in the decade to the equivalent in todays moneyIf you have $100 Converted from 1970 to 2005 it would be equivalent to $517.65 today
In 1970 a new house cost $23,400.00 and by 1979 was $58,500.00 Examples of homes and Property for sale in the 1970's
In 1970 the average income per year was $9,350.00 and by 1979 was $17,550.00
In 1970 a gallon of gas was 36 cents and by 1979 was 86 cents
In 1970 the average cost of new car was $3,900.00 and by 1979 was $5,770.00 Examples of Models andCar Prices in the 70's
A few more prices from the 70's and how much things cost
Datsun 210 $3,869
Dodge Colt $4,785
Warm Leather Lined Boots $39.99 From Prices for clothes and fashions in the 70's
Car 8 Track Stereo Tape Player $38.99
CB Radio $147
Medium Eggs 25 cents per dozen From Food Prices In The 70s
Miracle Whip $1.09
King Size Bean Bag Chair $19.99
Porcelain Kitchen Sink $9.88
Quartz Alarm Clock $12.97
Also Check Out Our 70's Computers Electrical Prices and Furniture Prices Sections
Example of a home from our
Country Ranch with 10 acres 3 bedroom large barn fruit and oak trees Vallejo California $59,200 1974
- The oil crisis in 1973 was caused when Arab members of the Organization of Petroleum Exporting Countries (OPEC), during the Yom Kippur War, announced that they would no longer ship petroleum to nations that had supported Israel in its conflict with Syria and Egypt , to the United States and its allies in Western Europe. It was also announced that the price for Oil would increase drastically. The west was by now dependent on oil and together with prices quadrupling and measures for rationing the western world went into recession and suffered massive inflationary pressure. At that time the United States did have their own oil reserves and although they were affected the biggest impact was on European Economies .
- After nearly 10 years of war in Vietnam 1973 was also the year that allied forces pulled out of Vietnam
- Another significant factor in the 70's was the growth in womens rights and womens role in society including the ability to decide when where and if they wished to have children ( partly through the availably of the contraceptive pill )
- President Richard Nixon was forced to resign as president of the United States due to imminent impeachment related to the Watergate scandal.
- With the continuing Cold War between the East and West the arms race continued with each side trying to find the ultimate weapon
More About Munich Olympics
Popular Culture 1970's
The Waterbed The 70's produced many icons , one of those being the modern waterbed created by Charles Hall in 1968, This was fuelled by the sexual revolution of the 70's encompassing the Waterbed .Music 70's
- Progressive rock created a new generation of bands including Genesis, Yes, Emerson, Lake & Palmer and Pink Floyd. Many other singers and bands also started or strengthened their fan base including The Rolling Stones, Led Zeppelin, Aerosmith, AC/DC, Queen, Black Sabbath .
- In Europe, the music was not as progressive from bands like T Rex, Gary Glitter and David Bowie, and bands like Slade and the Sweet. and possibly the most successful in the 70's being ABBA
Paul Newman
Robert Redford
Clint Eastwood
John Wayne
Burt Reynolds
Al Pacino
Woody Allen
Barbra Streisand
1970's Music page
Toys 1970s
Toys From The 1970sTechnology 1970's
- The 70's were the start in many ways of the Electronics and digital revolution, with the invention of transistors and Integrated Circuits in the late 60's, companies now found ways to use the technology which caused the phenomenal growth in smaller more powerful and cheaper products ranging from Calculators to Televisions.
- The 70's also saw the beginning of the Home Computer due to Intel creating the first cheap microprocessor - the Intel 4004, and other integrated circuits. In the beginning the computers were mainly for the hobbyists and included the Apple II, the TRS-80, the Commodore PET, and Atari 400/800 and with the growth of these home computers Bulletin Boards became a popular way for people to find others with similar interests
- The first use of card access Electronic Locks appear
- As people realised the power of these new home computers a new use was found and that was the beginning of the video game . When we look at those games now we see how basic they were but the technology available and the understanding of what could be done limited those early games.
- With the invention earlier of the microwave oven and now the capability to manufacturer and sell cheaply many homes adopted the technology in their kitchens
- Due in part to the increased use of the 747 a Jumbo Jet able to carry large numbers of passengers across continents air travel booms and causes new problems with pollution, delays and air traffic control
Inventions The Year Invented Inventors and Country ( or attributed to First Use )
Barcode ----- 1973 USA
E-Mail ----- 1971 USA
Floppy Disk ----- 1971 USA by Alan Shugart
Genetic Engineering ----- 1973 USA by S Cohen and H Boyer
Ink Jet Printer ----- 1976 USA
In Vitro Fertilisation ----- 1978 England "test tube baby"
Laser Printer ----- 1975 USA
LCDs ----- 1970 England by George Gray - Liquid Crystal Display
Microprocessor ----- 1971 USA
MRI Scanner ----- 1977 USA by Raymond Damadian
Personal Computer ----- 1975 USA Microsoft
Space Station ----- 1973 USA Skylab
