Why was there a boom after WW2
Plan on Post World War Two Boom
- 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"
- Fridges, washing machines,. TV's
- 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"
- Veterans given $15 bill
- 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
- Committed Gov. to assure economic growth
- GI Bill of Rights 1944
- 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)
- 35% new homes (13 million = 100%) in 1950's in suburbs (AmericanDream- perfect neighbours)
- 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
- Marshall Aid Plan 1946-1947
- Created strong economic foundation
- Baby Boom
- The more children, the more spent
- Bigger housing needed
- Need to purchase for children
- The more children, the more spent
- 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
- GATT
- Bank for Reconstruction & development (World Bank) helped rebuild war-battered Asia 7 Europe
- USA was at the heart of 'New Economic World'
- GATT
- Consumer Goods/ Advertising Boom
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