Retrospectively; it's an oddball era of change.
-The effective economic collapse of the-then second greatest world superpower
-It marked the last generation who was born "without computers" or mass-media communications (IMs, cell phones, Internet) readily available. Well, unless your family was ludicrously wealthy and you could somehow tolerate 1200 baud modems...
-A super-genre that I can only call "Cornball-Media" followed in the wake of some truly awesome movies from the early 80s (this would later lead us into the Dark Age that was the "Extreme" era in the 90s). But I would still rather take that and get a few good (unintentional) laughs than the Mobius Strip that is today's remake/reboot/sequel-only market.
-The Great Atari Crash, and the Rise of Nintendo.
Seriously. If you were a child in the mid to late 80s, you knew about Nintendo. Their market presence was HUGE just following the crash. (I know someone is going to link the "Power Glove" quote from The Wizard in 3...2...1...)
-Music: Uh, yeah. Synth Cheese and Hair Metal dominates. Hair spray and some of the worst fashion choices in the history of Publicly Approved result. I'm not sure who to blame, but I'm going to ignorantly scapegoat MTV and VH1 because I was too young to really care at the time...
For my own tastes; 80s music is widely polarizing. It's either really really good, or really, brain-rapingly bad. I think Rap began its meteoric takeover of pop music here but the less I think about that the happier I'll be..
-"Jellybean Autos"
With the rise of Japanese imports as a result of significantly hiked fuel prices, we also saw a decline in the shape and types of general purpose autos entering the market. I'm guessing theres a reason nobody gives a toss about "vintage" 1980s autos unless they happen to be Ecto-1 or the Delorian..
Don't mistake me for blaming Japanese autos for this; the American manufacturers all did this for reasons I can only assume are related to fuel economy and optimization (due to the new Fuel Economy and emissions regulations).
And finally:
-"Reaganomics". I was too little to understand what was really going on here, but for you political students out there, I'll just leave you with the one word I remember: "Superfund"
I lived through much of it, but since I was born in the 80s, I can only correlate what I remember with what happened. Except Nintendo. I was a total sheep for Nintendo.