Growth of a consumer society, 1951-79 (4a) Flashcards
What were the causes of the Consumer Society?
- The global economic boom
- Rise in wages
- Changes in travel & leisure
- Consumer credit
When was ‘the Golden Age of Capitalism’?
Between 1951 and the early 70s - this was when the global economic boom occured
What was ‘the Golden Age of Capitalism’?
Countries around the world experienced rapid economic growth & in countries like the USA
Why was the USA in a good economic position in the years 1951-79?
- Keynesian economics was used most widely
- Their war debt was not as low as other countries - due to money owed to them
- This boosted their manufacturing industries
Give an example of how widespread the global economic boom?
Even countries like Japan & Germany experienced massive growth
This was fuelled by their apility to export
How did Britain change during the global economic boom?
It became a country that imported more than it exported
Why did Britain become a country that imported more than it exported during the global economic boom?
Due to its inability to invest wisely in our manufacturing industries
How was Britain’s huge import market during the global economic boom helpful to some people?
It helped some business & people were able to buy, because of the growth of consumer credit
How did spending on consumer goods change in the 1950s?
It rose by 25% in the last part of the 1950s
Why did spending on consumer goods increase in the late 1950s?
Wages rose due to the post-war boom & the governement’s approach to the economy through the PWC
How was consumer buying similar/different to how it was before WW2?
Similar: The tendency to buy labour saving devices had started to develop before WW2 - this continued after
Difference: New products such as televisions were introduced after the war
