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The 1980s were a decadent, disastrous, and innovative time in United States history. Beginning under the shadow of the Iran hostage crisis, and ending with the symbolic fall of communism with the Berlin Wall, the '80s hosted an impressive gamut of environmental, political, and pop cultural events.The 1980s have been called “the decade of decadence,” and one of the era’s most notable movie characters, Wall Street ’s Gordon Gekko, famously declared that “greed is.good.”. But the decade was about .