Excellent points by vmf-1.
However, we *do* see and *will* see the like of these films again. The trace elements of their social realism have never gone away in European, Asian and Latin American film.
For instance, look at Almodovar's films which eagerly cling to the street and its bruised, renegade culture. Check out Michael Haneke's movies. Takishi Miike in Japan has shot work, such as his Black Society Trilogy, which visually and thematically owes much to 70s American films, and they'll appeal to anyone who likes early Scorsese.
And not all working American directors have been forced to make brain dead strobe-lit crap for Hollywood or pretty twee navel-gazing for the Sundance circuit.
One gifted U.S. director continuing the onto-the-street approach is Jarmusch, whose movies continue to paint the U.S. street just as it looks: grimy, despairing and struggling (except, of course, where the hands of Disney and the right wing have been felt). See the mean streets of Ghost Dog or the backwoods rust of Broken Flowers.
The 70s tradition isn't completely dead, it's just a minority aesthetic holding its lonely own against the octoplex assembly line. It may make a comeback here yet. War and social upheaval helped give birth to 70s film. As the Wal-Marts multiply, the American Dream runs low on credit and believers and Hollywood continues to lose piles of money, better, botox-free American cinema may be around the corner.
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