Reasons for Economic Boom 1945-1960
- Created by: MollySteele
- Created on: 03-06-19 13:25
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- Reasons For USA Economic Boom 1945-60
- Economic Development
- GDP
- Supply & demand
- Average wage 2x britain's and 4x italy's
- Cars cheaper to buy and maintain
- New Industries
- Petrochemical
- Pollution
- Rise in accidents
- Cut into competition
- Defence
- Cold War Era
- 50% spending
- Conglomerates
- Cold War Era
- Aerospace
- Space race against Russia
- New Products
- Teflon
- Electronics
- Home Computer
- Petrochemical
- Agricultural Modernisation
- 15% Decline in farming
- 15% people no longer lived on the land
- Small farming dies
- Strong businesses survived
- Subsidised b govt.
- Ways of Working-Labour Organisations
- Computing led to new jobs
- Real wage grew 10%
- wages rose
- hours fell
- Job shift
- office based
- industrial workers fell
- 39-38%
- due to automated production
- Consumer Economy
- Shopping Malls
- Breeding site for advertisements
- Credit Cards
- Buy now pay later
- Housing
- 43% of income spent on electrical products
- keeping up with the Joneses
- Cars
- 3000 in business by 1950
- Shopping Malls
- Economic Development
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