Post-War Prosperity Flashcards
By when did the US produce half of the world’s goods?
1947
By the 1950s, which proportion of rural USA had cars and TVs?
2/3 TVs, 3/5 cars
What was the unemployment rate in 1945 vs 1950
1945 - 1.9%
1950 - 4% (despite the slump post-war)
Which % of people were under the poverty line?
20% - better than Europe
Name some examples of new post-war technology
Polaroid, the record, frozen food
How much did sales of household appliances increase?
5 times
How much was spent on gum in 1952
$255million - showing the increased market for luxury goods and thus the increased disposable income
How many babies were born in 1946?`
3.4 million
How many babies were born between 1946 - 1964?
76.4 million - a total of 40% of the population
How much was each baby worth to industry?
$800
What did the 1946 Tuft-Harley Act do?
Limited union powers. outlawed closed-shop and secondary picketing
Meant that unions and employers worked more sensibly together - echoing attitudes during the war
What did UAW and General Motors agree
In 1948 - no strike policy in return for job security and better wages
What was the Serviceman’s Readjustment Act?
Otherwise known as the GI Bill 1944 - gave veterans cash benefits, educational opportunities, and home loans
What was the Government’s expenditure in 1948?
$36 billion - dwarfing the 1940 figure of $5.3billion
What did the Cold War lead to?
Increased military spending - 14% of US’ GNP in 1953
