Why was there a boom after WW2

Plan on Post World War Two Boom

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  • Created by: Dracupine
  • Created on: 15-05-13 13:16
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  • Why was there a boom after WW2
    • Consumer Goods/ Advertising Boom
      • Fridges, washing machines,. TV's
        • 1946-7,000  sets
        • 1960- 60 million sets
      • No longer luxury but essential
      • Production & consumption of cars
        • 67 million  privately  owned
        • Car parks, restaurants, tourism, drive in restaurants, out-town shopping malls, drive-through cinemas
      • Purchase 58 million new cars during 1950's. 2 tone colours
      • Production after war HUGE
      • Consumer cycle
        • "borrow, spend, buy, waste, want"
    • Government policies
      • GI Bill of Rights 1944
        • Veterans given $15 bill
          • Return to Education. - 2.5 million
          • Unemployment relief
          • Loan to buy house
          • Loan to start business
        • Prevent Bonus Army marches (anacostia flats)
        • Veterans made over 1/2 of all college students 1947 (often married with young children)
          • 'Veterans' village housing units
        • Gov. issues (uniform given by government)
        • "the servicemen's Readjustment   Act"
      • Federal  spending on highways skyrocketed:
        • 1946- $79 million
        • 1960- $26 million
      • Truman's Employment Act 1946
        • Committed Gov. to assure economic growth
          • Tax cuts of $6 bill for business to create more money
          • 17% of Federal Gov. expenditure on buildings project
            • roads
            • Train Lines
            • Airports
            • schools
    • Housing Boom
      • 35% new homes (13 million = 100%) in 1950's in suburbs (AmericanDream- perfect neighbours)
        • 2 million new homes a year 85% suburbs
      • Only 180 thousands house's build during New Deal
      • FHA- Federal  Housing  Administration & VA Veterans Administration offered low-interest loans & promoted Housing offered
      • Mostly built in suburbs (cities & towns)
        • Flat pack Levit Housing
        • 'Federal Mortgage Amendment Act' (onap mortgage)
        • 67 mill privately  owned cars (in car ownership)
        • 'White flight'
        • By 1950's 20 mill Americans moved to suburbs, making suburban & city population equal
      • HUGE construction. Generic & rules. fences, buzzer, washing...
      • Former servicemen took up residence e.g. California's population 9-19 mill (1946-1964)
    • Technology Advances
      • Science & computing
      • From World War II & carried on
      • Synthetics & Electronics
        • Silicon Valley (california
    • World War 2 & Cold War
      • Created strong economic foundation
        • Businesses adapted
      • Huge savings made during the war
        • $150 billion
      • Reduced unemployment
      • War
        • World War Two
        • The Cold War
          • Marshall  Aid Plan 1946-1947
            • George Marshall Aid "Europe a bloody mess" needed help
            • $13 billion to Europe  saving Europe (to prevent commission)
              • (Stimulated) buy US produce
          • Ideological conflict US vs Russia
            • Communism Vs Capitalism
          • Korea
          • Berlin Wall
          • Vietnam
          • Stimulation of industry through finance. 1954-1945-- 10% GNP  used for military spending
            • Hydrogen bomb
            • Space Race
              • Neil Armstrong (moon)
              • Yuri Gugari (space)
            • Military  facilities in poor areas. Evening cut Geographical imbalance of wealth
    • Baby  Boom
      • The more children, the more spent
        • Bigger housing needed
      • Need to purchase for children
    • New Economic World
      • GATT
        • 1947- General Agreement on Tariffs & Trade
        • Further aided the speedy reconversion of the American economy & gave the US an especially  favorable  position in international affairs
        • Break up- closed tracking blocs & expanded in ternational trade
      • Bretton Wood Agreement
        • International Monetary Fund (IMF created)
        • 1947- General agreement on Tariffs & Trade (GATT)
          • GATT
            • 1947- General Agreement on Tariffs & Trade
            • Further aided the speedy reconversion of the American economy & gave the US an especially  favorable  position in international affairs
            • Break up- closed tracking blocs & expanded in ternational trade
        • Bank for Reconstruction &  development (World Bank) helped rebuild war-battered Asia 7 Europe
      • USA was at the heart of 'New Economic World'

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