Why were the 1970s dubbed the "ME Decade?"

During the 1960s, the United States was still recovering
from World War II.  The ideas of this war were still fresh in people's minds, and with
the Cold War in full swing, people were interested in improving their country and
society as a whole.  Sometimes this is referred to as "communitarianism"--the idea that
the community is more important than the individual.  In 1961, President Kennedy
famously said, "ask not what your country can do for you, but what you can do for your
country".  This quote underscores the ideals of the 1960s.
 

However, during the 1970s as things began to wind down
and feel more peaceful, people became more interested in bettering themselves.
 Individualism became more important as people became dissatisfied with wars and
politics.  They realized that these things could not fix society, and some reasoned that
perhaps nurturing the individual would do a better job.  As a result, fashion completely
changed.  Rules were broken; women continued to assert themselves socially; expressions
of one's own self were encouraged.  Some people took this as far as "streaking", or
running naked, while others took part in the less-startling fads such as "pet rocks" or
horrific color combinations of clothing.  Since the 1970s were all about expressing
oneself, they were dubbed the "Me Decade".