(Economic transformation) Economic situation Flashcards
How did the USA emerge from WW2?
The richest country in the world.
What continued to improve for many Americans after WW2?
Economic & employment opportunities.
What further justified increased military spending?
American began focusing on the next conflict, as opposed from being isolationist, as after WW1.
By 19__, USA had __% of world’s _________, but ___% of global ______.
1945 7% population 42% income
What was average per capita income?
How did this compare to Britain?
$1,450
2x GB
Consumer spending - how many calories was the average American consuming a day?
How did this compare to Europe?
3,000
50% more
Consumer spending - how had car production changed?
1946 = 2 million 1955 = 8 million
Employment - by 19__, there were almost ______ new job opportunities for ______ and _________ workers
a) 1960
b) 4,000
c) unskilled
d) semi-skilled
Employment - what transformed American air force & air travel?
What did this mean?
Development of jet engines.
Developing aeronautical engineering meant some jobs were becoming more skilled, with that higher wages being offered.
Employment - give evidence of the opportunities in computing opening up.
In 1944, IBM produced the first general purpose computer.
Employment - what had changed regarding the dynamic between white and blue collar workers?
Demand for white collar workers overtook demand for blue in 1956.
Employment - give evidence of a growth in the middle-class.
Number of jobs in professional & technological work grew with the number of salaried middle-class workers rising 61% in 1947 - 1957.
Employment - who did increasing demand for workers mainly favour?
Men, with female workers experiencing gender prejudice & discrimination.
How and why were people cautious in this time?
Many remembered the Great Depression so consumer spending was not out of control or wasteful; many saved money and lived carefully.
Limitations - give evidence of an uneven distribution of wealth.
1947 = 33% of homes lacked running water & 40% lacked flushing toilets.
