Some parts of the US economy may have been terrible (perhaps due to the increased oil price, which became closer to the true cost of oil than that of the previous cheap oil, which was so cheap because it was basically stolen by USA), but in another parts of the world the economy was great in comparison with what followed after 1980.
Moreover, even in the US, the seventies were the greatest time for the electronics and computers industries, when the greatest amount of innovations have been made.
After 1980, there have been huge advances, but all of them were completely predictable, i.e. the electronics and computing industries settled on an evolution path that was well defined for a few decades, with very few surprises.
The seventies were much wilder, when much more diverse things have been tried (and many of those have failed) and they were surely hopeful, especially in their second half.
During the seventies, there were a lot of US companies that I liked and I was convinced that if I bought something from them that was mutually beneficial, because they really tried to make products that fulfilled as well as possible the needs of their customers, while ensuring a decent and reasonable profit for the vendor.
Nowadays there exists no big company in the entire world from which I can buy a product without feeling that this is an adversarial transaction, where they try as hard as they can to fool me into paying as much as possible for something that is worth as less as possible.