Economy and the American Dream Flashcards
During the 1950s, how much of the world’s goods were produced in America?
Nearly half of the world’s goods
How did the American economy benefit from WW2?
- industries boomed with war material production (weapons, vehicles etc)
- more employed workers with increased wages
- mainland America had not suffered from bombing unlike other countries
Which social group’s life improved dramatically during the 1950s?
White middle class Americans
Where did many wealthy white Americans move from and to after the war?
From the old city centres to the suburban areas (suburbs)
As part of the American dream, what modern conveniences were considered ordinary products that a home must have?
Refrigerators, washing machines, and televisions
True or false - spending rather than saving was encouraged in post war America?
True - shopping became a popular pastime (adverts on TV, in magazines and newspapers)
How did many Americans pay for these new conveniences?
- Hire purchase (buy now and pay in instalments)
- buying using credit cards
What were the suburbs (suburban areas)?
Larger family homes built on privately owned housing estates, outside of the cities, with gardens, picket fences etc
People would travel to and from work in their new cars (cadillacs etc)
Why was it accepted that people would replace products after only a few years?
People accepted things would not last long, it was difficult to get spare parts for old products so people would be forced to buy new ones
