![]() ![]() ![]() Industrialized countries experienced an economic recession due to an oil crisis caused by oil embargoes by the Organization of Arab Petroleum Exporting Countries. In the United Kingdom, the 1979 election resulted in the victory of its Conservative leader Margaret Thatcher, the first female British Prime Minister. ![]() In the Western world, social progressive values that began in the 1960s, such as increasing political awareness and economic liberty of women, continued to grow. In the 21st century, historians have increasingly portrayed the 1970s as a "pivot of change" in world history, focusing especially on the economic upheavals that followed the end of the postwar economic boom. The 1970s (pronounced "nineteen-seventies" shortened to "the '70s") was a decade of the Gregorian calendar that began on January 1, 1970, and ended on December 31, 1979. ![]()
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