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<\/a><\/p>\nDeLorean the \u201cEthical\u201d Sports car, ideologically driven? On the road to nowhere?<\/strong><\/p>\n Haskell:-<\/p>\n \u201cThe much discussed DeLorean project involved Lotus cars as consultants from the early days.Quite apart from the financial and political complications; the project had its technical difficulties as well.<\/p>\n If Chapman had had his own way the car would have been very different since he considered that many of the design features already pre-defined were quite wrong\u201d<\/p>\n \u201cThe DeLorean DMC 12 was produced with estimated \u00a365 million of British Government money. It was a spectacular failure. Intended to be the future \u2026\u2026..in reality dated before it even reached production\u201d<\/p>\n Cars: The Power&Glory:-<\/p>\n \u201cThe DeLorean DMC -12 designed by G.Giugiaro was supposedly the recipient of massive engineering development resources and was intended to be modern, radical, technically advanced and premium priced. What it turned out to be was a good looking sports coupe that was ill developed, underpowered, poorly built and late coming to market. Given that about the only goal set for it that held good was its high price \u2013and indeed that doubled \u2013it\u2019s no wonder that \u201cTime \u201c magazine voted it one of the 50 Worst cars of all Time.<\/p>\n Introduction<\/strong><\/p>\n This article is product of the editor\u2019s intention of taking a large view of Chapman and Lotus. We hope to take a long view to encourage understanding on the contextual determinants impacting on is designs and commercial strategy.<\/p>\n In order to achieve this it\u2019s often necessary to sweep a wider back ground and research behind the cars.<\/p>\n To this end editors were researching the economic events of the 1970\u2019s and how these impacted on Lotus when it became obvious the extent to which economics and finance unfolding through the 1970\u2019s reacted on Chapman and indeed Delorean.<\/p>\n This article is therefore culturally grounded with what we hope is an equal balance of the events and product i.e. the DMC-12.<\/p>\n Subscribers will know about Delorean and the fraud case against Chapman.<\/p>\n Chapman would have likely faced a prison sentence if he had lived. There can be no excuse for the embezzelement but we invite readers to appreciate what was achieved by Lotus engineers in delivering the DMC-12 and also the circumstances of the era.<\/p>\n We have developed these historical and economic backgrounds at length and make no apologies for the detail in order that subscribers might have a more objective interpretation of the unfolding events, the competition and the market place.<\/p>\n DeGroot:-<\/p>\n \u201cIt is best to see the Seventies as a time when the sixties chickens came home to roost; a decade when dreams died, hope was thwarted, problems long ignored finally exploded and optimism repeatedly crushed gave way to frustration .no wonder then that macro turned into micro and grandiose dreams gave way to small pleasures .surrounded by the detritus of forlorn ambition people quite understandably turned inward to family and individual fulfilment\u201d<\/p>\n The editors maintain that the fullest and most holistic appreciation of Chapman cannot be achieved without reference to wider and economic and cultural forces impacting on society and consumers. Chapman was an entrepreneur and produced cars for the market place. He was subject to reward but also risk. Our educational role then is not restricted exclusively to engineering but is forced to look further afield. This provides educational opportunities in the academic disciplines that include:-<\/p>\n And indeed there are lessons for today in relation to protectionism etc.<\/p>\n Subscribers might like to see existing A&R articles:-<\/p>\n Baby Boomers and Sociological change<\/strong><\/p>\n The 1970\u2019s is a more complex era than often thought .It possessed aspects and elements of continuity with profound undercurrents of contradictions Teenagers and the youth economy of the 1960\u2019s evolved into\u00a0 responsibilities , marriage families and homes.<\/p>\n Underpinning changes in society and employment were powerful technological forces .The heavy industries and male employment tended to decline and replaced with service industries and female employment [many women having entered university and or higher education etc.] Women were more likely to be employed in the emerging occupations associated with Banking, finance, retailing and tele-marketing. For example in the 1950\u2019s British Leyland controlled 52% of world auto exports but by 1974 they had fallen to sixth place.<\/p>\n The changing gender roles possibly might be expressed in Margaret Thatcher becoming PM.<\/p>\n Some sources suggest between 1965 and 1980 2 million manufacturing jobs were lost in UK.These were predominantly in heavy industries like car manufacture, mining, ship building, mining, steel.[see specific reference to Northern Ireland below]<\/p>\n Sadly perhaps too Britain has suffered in terms of productivity and investment, but this must be seen in the context of capital mobility and cheap labour around the globe.<\/p>\n The era perhaps marked the end of British manufacturing and being the workshop of the world. Structural change and new realities in industry perhaps killed Keynesian economics and the post war dream of infinitely expanding affluent society.<\/p>\n The 1970\u2019s also had a cynical underbelly and there was corruption in property and other attitudes to easy money.<\/p>\n Perhaps too the demographic change allied with economic structural change possibly provoked a shift from 1960\u2019s liberalism to a reactionary throw back and degrees of self-protection. These changes possibly impacted on taste, fashion and products along with behavior and cultural norms and values.<\/p>\n The 1970\u2019s witnessed wars , revolution, civil wars ,oil crisis ,high inflation, high taxes ,spending cuts ,businesses closing , rising unemployment , redundancies , industrial unrest , the Troubles and industrial subsidies, recession .Some suggest that the roots of conflict in various forms was based in poverty.<\/p>\n Possibly underestimated was the growth of credit like Barclay card and Access and negative impacts in the longer term. Perhaps too the explosion in mortgage availability in the 1970\u2019s kicked off an economy that became increasingly over dependent on property .Also into the equation came North Sea oil which in some respects was a savior but this too possibly concealed and deceived and postponed larger economic change which was needed.<\/p>\n Perhaps simply, culturally the country and society was struggling with modernism, change of identity, role and wealth distribution patterns.<\/p>\n Suddenly into collision were powerful forces some seeking modernism, others protectionism and the status quo.<\/p>\n 1: Socio-Economic climate of 1970\u2019s<\/strong><\/p>\n \u201cThe Value of a Pound\u201d provides a tight economic summary of the decade. In their chapter of the era they call \u201cYears of Change\u201d they observe:-<\/p>\n \u201cIn 1970 unemployment was at its highest level in years inflation was raging out of control and economic growth was at its lowest level since 1964.The violence in Northern Ireland had exploded in 1969\u2026\u2026\u2026\u2026\u2026to deal with the chronic unemployment was the \u201clame duck\u201d policy \u2026\u2026\u2026\u2026.it also helped to increase public expenditure \u2026\u2026\u2026.and subsequently exacerbated the rising level of inflation \u2026\u2026\u2026\u2026\u2026.rapid world commodity prices caused an even worse Balance of Payments crisis \u2026\u2026\u2026\u2026..was between the Arab states and Israel\u00a0 caused oil prices to quadruple in 1973\u2026\u2026\u2026\u2026.the value of the pound decreased radically which led the Government to go to the IMF for monetary aid \u2026\u2026\u2026.inflation continued to increase \u2026\u2026\u2026..unemployment ,however reached a peak of 1.6 m in 1977\u2026\u2026\u2026\u2026\u2026…<\/p>\n Between 1970 -79…It suffered from chronic unemployment and high inflation and lagged behind its export competitors in technology and business practice .prices doubled and unemployment tripled \u2026\u2026\u2026\u2026\u201d<\/p>\n .\u201cCynical Times \u201cis how Miller describes the 1970\u2019s<\/p>\n \u201cThe 1960\u2019s had been a time of space exploration , Beatles tunes and flower power.as the decade drew to a close the optimism and sense of progress that typified the post war years\u00a0 was being replaced\u00a0 with deep cynicism .interest rates were increasing ,inflation was rising and the number of unemployed was growing at an alarming rate .the US involvement in Vietnam war had escalated out of control ,their technology superiority failing to gain them an easy victory , for the first time scientists were warning about the damage being done to the planet, then came the energy crisis.<\/p>\n In 1973 the oil rich Arab nations angry at the wests support for Israel cut oil supplies in protest .an energy crisis ensued in the us ,Europe and japan with dramatic price rises \u2026\u2026\u2026\u2026.\u201d<\/p>\n Effects from the net:-<\/strong><\/p>\n Recession<\/strong><\/p>\n Main article: <\/em>1973\u201375 recession<\/em><\/a><\/p>\n In the parlance of recession shapes<\/a>, the Recession of 1973\u201375 in the United States could be considered a U-shaped recession<\/a>, because of its prolonged period of weak growth and contraction.[22]<\/sup><\/a> The decade of the 1970s was a period of limited economic growth due in part to the energy crises of that decade. Though the mid-decade was the worst period for the United States the economy was generally weak until the 1980s. The period marked the end of the general post-World War II economic boom<\/a>. It differed from many previous recessions as being a stagflation<\/a>, where high unemployment<\/a> coincided with high inflation<\/a>.<\/p>\n Other causes that contributed to the recession included the Vietnam War<\/a>, which turned out costly for the United States of America<\/a> and the fall of the Bretton Woods system<\/a>. The emergence of newly industrialized countries<\/a> rose competition in the metal industry, triggering a steel crisis<\/a>, where industrial core areas in North America and Europe were forced to re-structure. The 1973-1974 stock market crash<\/a> made the recession evident.<\/p>\n According to the National Bureau of Economic Research<\/a>, the recession in the United States lasted from November 1973 to March 1975.[23]<\/sup><\/a> Although the economy was expanding from 1975 to the first recession of the early 1980s<\/a>, which began in January 1980, inflation remained extremely high for the rest of the decade.<\/p>\n During this recession, the Gross Domestic Product<\/a> of the United States fell 3.2 percent. Though the recession ended in March 1975, the unemployment rate did not peak for several months. In May 1975, the rate reached its height for the cycle of 9 percent.[24]<\/sup><\/a> (Only two cycles have higher peaks than this, the current cycle, where the unemployment rate is currently 9.7%[<\/sup>when?<\/sup><\/em><\/a>]<\/sup> in the United States and the Early 1980s recession<\/a> where unemployment peaked at 10.8% in November and December 1982.)<\/p>\n The recession also lasted from 1973\u201375 in the United Kingdom<\/a>. The GDP declined by 3.9% [25] <\/sup><\/a>[26]<\/sup><\/a> or 3.37% [27]<\/sup><\/a> depending on the source. It took 14 quarters for the UK’s GDP to recover to that at the start of recession.[25]<\/sup><\/a><\/p>\n In 1981 there was a world recession.<\/p>\n 1970\u2019s Earnings [Full time male] Weekly.UK<\/strong><\/p>\n\n
\n
<\/a><\/p>\n
\nPercent Change from Preceding Period in Real Gross Domestic Product (annualized; seasonally adjusted); \u00a0 Average GDP growth 1947\u20132009
\nSource: Bureau of Economic Analysis<\/a><\/p>\n