1980s Recession

The early 1980s recession was the most severe recession to affect the majority of the world since World War Two. As many countries experienced huge economic downturns, millions of people felt the ramifications of the crisis. Unemployment and inflation rates soared as governments battled to keep control of their country’s finances. The everyday experiences of the recession on everyday people have been explored extensively on stage, through a series of socially and politically charged plays and musicals. This guide will explore how these shows were influenced by the turbulent years of the early 1980s.

Terminology

• Recession: A period of temporary economic decline during which trade and industrial activity are reduced.
• Inflation: A general increase in prices and fall in the purchasing value of money.
• Group of Seven (G7): An inter-governmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States.
• Strike: A refusal to work organized by a body of employees as a form of protest.
• Reaganomics: The economic policies of the former US president Ronald Reagan, associated especially with the reduction of taxes to generate more revenue.

Key Dates & Events

• 1978 - Beginning of the Iranian Revolution, which continued until the following year.
• 1979 - Beginning of the oil crisis, generated primarily by the effects of the Iranian Revolution.
• 1979 - Margaret Thatcher (leader of the Conservative Party) wins the General Election in the United Kingdom and becomes the first female Prime Minister.
• 1980 - The first recession in America began in January. By July, it was officially deemed to be over but it proved to be only a temporary respite as the country fell back into recession the following year.
• 1980 - Unemployment in Britain exceeds 2 million for the first time since 1935.
• 1981 - Ronald Reagan is elected president of the United States of America in January.
• 1981 - Unemployment in Britain reaches 3 million.
• 1981 - PATCO, the union of federal air traffic controllers, goes on a national strike in August, resulting in over 11,000 air traffic controllers losing their jobs.
• 1983 - Blood Brothers debuted in Liverpool before Willy Russell transferred it to the West End for a short run.
• 1984 - The beginning of the UK miners’ strike, which continues through March 1985.
• 1999 - King Hedley II premiered at the Pittsburgh Public Theater, before transferring to Broadway the following year.
• 2005 - Billy Elliot the Musical premiered in London, based on the 2000 film of the same name.
• 2008 - Flashdance the stage musical premiered in Plymouth, England before transferring to the West End. It is based on the 1983 film of the same name.
• 2014 - The Last Ship opened on Broadway but had a limited run due to poor ticket sales. A revamped version opened in the UK in 2017.