1946. Allowed the Government to adopt policies to provide full employment.
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GI Bill of Rights
1944. Offered grants to veterans to improve education. 8 million took the offer. Former combatants were to recieve $20 a week until they found work, but only 20% of money set aside was used. Veterans paid for to attend university.
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Impact of GI Bill of Rights
Provided workers with developed skills which later boosted economy and took competition away from jobs. $15 billion spent.
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Impact of Marshall Plan
$13 billion of aid was given to European countries. Many spent this on American goods, increasing exports. This in turn increased income and consumer spending.
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Taft-Hartley Act
June 1947. Outlawed closed shops (where people in a certain industry must belong to a union) and secondary strikes (where workers strike in support of others). Gave president power to prevent strikes.
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Consumer Spending
1953 annual income is $4011. Disposable income increased 17%. Number of cars rose 21 million in 1950s. Cars produced annually quadrupled between 1946-1955.
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Other cards in this set
Card 2
Front
GI Bill of Rights
Back
1944. Offered grants to veterans to improve education. 8 million took the offer. Former combatants were to recieve $20 a week until they found work, but only 20% of money set aside was used. Veterans paid for to attend university.
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