all cards Flashcards
How many transistor radios were there by 1958
45 million
What did the USA lose its place in the 1960s
As the world’s most important exporter
What was the gold crisis in the 1960s
falling gold reserve
What was the stagflation of the 1970s
businesses stopped expanding and wages stopped rising
What caused the stagflation of the 1970s
- shift in position of the USA in the world economy
- other countries such as Japan took over the USA in technological development
USA’s share of manufactured goods
1953- 19%
1973- 13%
Teenage consumption in the 1950s
1959 survey showed that teenagers spent $10 billion a year
1959 how many teenagers owned cars
1.5 million teenagers owned cars in 1959
Home ownership in the 60s
1960- 62%
1940- 43%
1960s living standards
93% had running water
1949 wealth inequality
Richest 1% controlled 20.8% of the country’s wealth
Americans living below the poverty line 1966
12% of white Americans
41% of non-whites
Hispanic ghetto
South Bronx in NY
What did Nixon emphasise
‘workfare’ not ‘welfare’
- Earned Income Tax Credit gave working poor with children $400 a year
Nixon cutting welfare benefits while seeming not to
1970 Family Assistance Plan