Economic Boom Flashcards
What was JM Keyenes Theory?
Government spending had a huge influence on economic growth and employment
GI Bill of Rights
1944
Aid to veterans to buy houses, start a businesses and educate themselves
Employment Act 1946
Stated the federal government should try to achieve maximum employment, production and purchasing power
The Highways Act 1956
Invested $43 billion into roads
Boosted construction industry created employment
Elevated car industry and inter-state trade
How many companies controlled 30% of manufacturing sales
50 out of 300,000
What was Americanisation of the world
The spread of American cultural values such as Coca Cola and Levi’s
2 arguments for globalisations
Helped poorer countries catch up with rich ones
Increased world trade reduced poverty
2 arguments against globalisation
Us corporations invested in poorer countries because they made greater profits from low wages
Globalisation was a form of imperialism
What reduced tariffs and trade and what did it do?
General Agreement on Tarrifs and Taxes and it increased us range of markets
What did the ‘iron triangle’ consist of
A relationship between lobbyists for the arms industry, politicians and arms contractors
What 3 corporations were involved in the MIC
McDonnell Douglas
Boeing
Lockheed Martin
Benefit of MIC
Created vast employment
What aided globalisation
International Monetary Fund 1946
World bank
What’s a sprawling built up area called
Conurbation
