Causes of The Post-War 1947 Economic Boom
- Created by: Jess
- Created on: 03-05-14 15:35
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- Causes of the 1947 economic boom
- Baby Boom
- Need more space
- Growth of the suburbs
- Link to housing boom
- 1000s more births after WWII
- Overcrowded universities in the 60s
- More economic security
- Need more space
- Consumer goods/ Advertising boom
- TVs
- 1946: 7000 TV's --> 1960: 50 million TV's
- Advertising boom
- Focus on the consumer
- Market research
- Focus on the consumer
- Cars
- Helped other industries
- Roads
- Shops
- Growth of the suburbs
- Leather, glass etc
- Drive-thru cinemas
- Petrol
- 67 million privately owned cars on the road in 1954
- Helped other industries
- War was the foundation
- $150 billion saved
- Couldn't get the goods during the war
- To fill houses
- Link to housing boom
- White goods
- No longer a luxury but are a necessity
- TVs
- Housing boom
- Only 180'000 built during the New Deal
- Huge need for more houses
- Growth of the suburbs
- The suburban housewife
- Doesn't work
- Not good for women's rights
- "The White Flight"
- They were the ones that had the money
- Not good for racism/ immigrants
- Many were whites only
- Leaving the inner cities
- Bad schools, crime, cramped, unpleasant
- Helped the motor industry
- More people have cars so can live further away from the city
- The Levitt House
- Flatpacked
- Helped lots of other industries in turn
- Roads/ construction
- Shops
- Levitt's company
- Cars
- Workers to put the houses up
- The suburban housewife
- Cheap mortgages
- Federal Mortgage Arrangement Act
- Only 180'000 built during the New Deal
- Government policy
- 1946 Employment Act
- Truman's Commitment
- Committed to assuring economic growth
- Low Taxation
- Like the 1920's Republican policy
- $6 billion worth of tax cuts
- 1944 Servicemen's Readjustment Act
- Get veterans back into society/the economy
- Helped them
- Low/cheap mortgages
- Gave them money to start businesses
- Unemployment relief
- Sent 2.3 million back to college
- More educated workforce
- Not unemployed
- By 1950, half of all students were ex-veterans
- Helped them
- Known as the "GI Bill of Rights"
- Spent $16 billion on its veterans in total
- "GI" = government issue
- Get veterans back into society/the economy
- 1946 Employment Act
- War
- The Cold War
- USA CONTINUES to spend heavily on the military
- 10% of the GNP
- Military bases set up in poor areas
- Stimulates deprived areas
- Weapons spending
- Space race
- Nuclear warfare
- Marshall Plan
- $13 billion of aid to all European countries
- Sent in dollars so they had to trade with the US
- Helps US businesses
- Sent in dollars so they had to trade with the US
- Thought they would turn to extremism/ communism if they were not helped
- $13 billion of aid to all European countries
- USA CONTINUES to spend heavily on the military
- WWII
- Rearmament in 1938
- Full employment by 1943
- Gets them out of the Depression
- They saved their money
- $150billion saved during the war
- No consumer goods to spend it on
- Huge demand after 1945
- Got their war bonds back with interest
- USA leaves undamaged
- Stronger trading position
- Doesn't have to rebuild anything
- Stronger trading position
- Government spending
- 4x spending of 1939 by 1941
- 1942 military output was the same as Ger, It and *** together
- Output had doubled
- Statistics
- 50 million tonnes of ammo...
- War economy
- The Cold War
- Technological advances
- Electronics
- TVs
- Cheaper
- More bought
- Silicon Valley
- California/ Growth of the West
- TVs
- Employment
- Link to consumer goods
- Electronics
- The Post-War global economic order
- USA was the economic superpower
- No real rival until ***an in the 1970s
- New economic system set up at the end of WWII by the USA
- USA becomes the heart of it
- Currencies pegged against the $ not the £
- GATT - General Agreement on Trade and Tarrifs
- US could really benefit
- Established in Bretton Woods
- USA was the economic superpower
- Baby Boom
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