A periodization concept, often used by historians, for the period of time roughly corresponding to the 1970s. After the post-WWII economic boom, during which many Americans seemed to have "grand expectations" for their nation, by the 1970s, several indicators seemed to suggest that the U.S. may be reaching its limits: growing distrust in government (Vietnam, Watergate), economic stagnation ("stagflation"), the limits of America's power in the world (Vietnam, Iran Hostage Crisis), and environmental damage caused by industrial economies and mass consumption (Earthy Day and the environmental movement).