“Feeling nostalgic for the good old days? Then think back to the late 1970s. Gas lines stretched for blocks at service stations thanks to a revolution in Iran and an energy crisis. Gas-guzzling cars were common: The midsized 1978 Oldsmobile Cutlass we (Consumer Reports) tested got 11.8 mpg in city driving. Inflation sat at an uncomfortable 7.6 percent, compared with about 2 percent today.
“The last 35 years have seen a revolution in consumer rights, protection, and choice. There has been an explosion in the variety of products available, the complexity of those products, and the speed with which they hit the shelves.”
These paragraphs open an article in the July issue of Consumer Reports magazine, and they offer a reminder of how far we’ve come since 1978. Back then telephone service was monopolized by Ma Bell. Airlines were highly regulated, which meant little price competition. While generic drugs had been around for a long time by 1978, in the ensuing years their availability skyrocketed, which has saved consumers billions of dollars. In 2012 77% of drugs prescribed by American pharmacists were generic brands, a record high. Home appliances are now safer, as are the foods on our table.
And, to move from the kitchen to geopolitics, let’s remember that Germany was split in two in ’78. Poland, Czech Republic, Hungary and other (now thriving and democratic) “East Bloc” states were governed by politburos. Relations with Russia are very bad right now, but in ’78 the USSR ruled ALL of Ukraine and missiles bristled from silos in Russia and the United States. Would anyone in 1978 imagine that the East-West divide would melt away eleven years later, bringing down the Berlin Wall and Iron Curtain?
“The good ole days” is an inviting fallacy. Sure, “back in the day” things were simpler, but they weren’t better. Nostalgia for the past is a poor guide for public policy given the abundant (but oft overlooked) progress we’ve made, especially since the end of the Cold War.