Economic 1945-75 Flashcards
What was this otherwise known as
AGE OF AFFLUENCE (lots of money)
CONSUMERISM VERY IMPORTANT
When and what was the marshal plan
1947
Rebuild European economy
Gave GB money so they could trade with us + US got internet
How was the military industry 45-75
Dominated
Satellite technology
NASA
When was the first moon landing
20 July 1969
How much of the worlds goods were US producing
1/2
How did JFK cause an economic growth and by how much
Big tax reductions
5% by end of 63
How much debt did us have under Johnson
$42b
13% increase in debt from jfk
What did LBJ spend a lot on bar
Vietnam
War on poverty
How many people did LBJ aim to help in poverty
15% of population in poverty
What did LBJ set up to help famers
OEO
Office of economic opportunity
Helped small farmers , Job training
What stopped Johnson’s great society
Spending on Vietnam
What was the American dream
New suburbs Cars Spending rather than saving Hire Purchase allowed buying Luxuries Modern conveniences in most homes
By 1960 how was American standard of living compared to British
3x better
Ho news popular culture dominated
By tv radio and cinema
Films made reflected confidence of the Time
Such as Disney (Peter pan Cinderella)
How were teenagers 45-75
Had more leisure time
What was the style of music 45-75
Rock ‘n’ Roll - reflected teenage rebellion
Elvis Presley
By 1948 how many houses had TV’s
By 58 how many houses
0.4%
83%
When was there a turn down in the economy 45-75
69 onward
Why was there a depression under Nixon
High inflation Recession Unemployment Stagflation War spending - Vietnam Cold War
What was stagflation
Unemployment rises and so does inflation
No jobs and everything expensive
How did Nixon deal with depression August 71
Freeze wages and prices
Raised tariffs on imports
Took off GS
Devalued the dollar
How did the 70s depression effect Europe
Opec raises oil prices in 1973- causes a crisis of oil supplies
What was inflation at 1974
12%
1974 what was unemployment %
9%
Economic 45-75 essay plan
P1) govt policies and Cold War spending etc
P2) WW2 impact and international factors
P3) consumerism
