Why was there a Boom?

Created by: MerlocksBeingWho
Created on: 24-04-16 15:09

View mindmap

Why was there a Boom?
- Housing Boom
  - 180,000 houses built in the ND
  - Millions if not billions were spent on homes
    - Huge housing boom
  - Growth of the Suburbs
    - The White Flight
      - Motor cars enabled people to move to the suburbs
      - Cheap Mortgages
        Federal Mortgage Arrangement Act
    - America became segregated - not officially
  - Levitt Home
    - Flat Pack Housing
    - No fences allowed
    - No wasing hanging outside
    - Conformity of houses
    - Couldn't move if you were black
    - Young people were bored
      - Desperate Housewives were bored too
        Tupperware Parties
- Technological Advances
  - Electronics
    - Silicon Valley (embryonic)
- Consumer Goods/ Advertising
  - Advertising
  - Fridges, washing machines, 1) cars 2) Tv's
    - 1) 67 million privately owned cars on the road Huge road building Drive through movies, Resturant's (McDo's) Shopping Malls
      - Considered a luxury in 1920s, a necessity in 1950s
        2) TV's John Logie Baird invented 1926 Not mass produced in 1920s Black and white 7,000 - 1946 across whole country 1960 - 50 million
    - 2) TV's John Logie Baird invented 1926 Not mass produced in 1920s Black and white 7,000 - 1946 across whole country 1960 - 50 million
- Government Policies
  - 1946 - Truman brings in Employment Act
    - Government commits itself to ensuring strong economic growth
      - Huge tax cuts for businesses
  - 1944 - Roosevelt made sure that veterans would be well looked after.
    - SERVICEMEN'S READJUSTMENT ACT
      - GI Bill of Rights
      - Don't want a recurrence of the Bonus Army March
      - Makes sense to readjust them back into society
      - Set aside $16 billion for soldiers to
        loan money to set up own businesses
        
        Unemployment benefit
        
        Sending them through college
        2.3 million men were at college at the end of 1940s
        
        1 in 2 had been in WW2
      - 12 million service men at that time.
    - GI Bill of Rights
    - GI - Government issue
  - Government continued to spend money on infrastructure continued after the war
    - 17% of GNP spent on infrastructure 1% in 1929
  - Government commits itself to ensuring strong economic growth
- Baby Boom
  - Significant increase in Birth Rate
  - Why?
    - More men in the Country
      - More economic security
    - Bigger Family = Bigger House
      - Levitt Houses
- War
  - World War Two
    - America was untouched by the fighting
    - 1938 - Roosevelt reintroduces rearmament
      - 1941 - USA spending was 4x as much in Military than in 1938
      - 1942 - America creates more war supplies than all enemy's out together.
      - 1943 - full employment
    - Americans had saved $150 billion across America
  - The Cold War
    - 10% of GNP still spent on the military
      - money spent on nuclear weapons
    - Arms Race against Soviet Union and United States.
    - Space Race
      - Russia sends Yuri Gagarin into space
      - NASA creates jobs for Americans
    - Marshal Plan
      - General Marshall - secretary of state
      - He went on a tour of Europe
        He realised Europe was finished
        
        Throught people might result to extremism
      - We need to give these people money, if we don't they will turn communist
      - Gives $13 billion to Europe
        Only people to trade with are American businesses
- Post War Global Economic Order
  - GATT General Agreement on Trade and Tariffs
    - Tries to end protectionism
  - After WW2, agreements were made which reshaped the global economic order
  - Britain at global centre before WW2
  - Country central to global economic order is America
  - Conference at Bretton-Woods. There the global economic order was reshaped

Get Revising

Why was there a Boom?

Comments

Similar History resources: