I also found today's lecture to be very informative and interesting. However, in contrast to Alex's feelings coming out of lecture, I found the "disasters" of the 1970's made me feel more reassured during our troubling times we are experiencing now as a country. If we were able to survive supply shocks and disasters to many of the important institutions and sphere's of American life in the 1970's we may be able to emerge as a stronger America in the near future. Among some of the more troubling similarities between the 70's and now would be the current account deficit (which has only seemed to grow), the % of American oil that is imported (and the similar political and social instability of the OPEC nations), a disastrous war that was not well received at home and abroad, an environmental crisis, and the real perception of lack of transparency and accountability among the executive branch of government.

I thought the interesting part of lecture came in the discussion of former President Jimmy Carter. From what I knew about Presidents going into lecture, it was said of Jimmy C that he was a very smart man, but a notorious micro-manager who was not able to get anything done because of it. I am divided whether or not to sympathize with his pragmatic and parental approach of telling America to suck it up with his sweater comment, or whether or not to be appalled at some of the ideas that were coming out of Washington in the day.