The Age of Affluence Flashcards
1
Q
How did the US’s economy grow during war?
A
- GNP had risen 35% since 1941
- USA possessed 42% of global income
2
Q
Describe Post-War Prosperity
A
- Per capita income at $1450 almost twice as high as GB
- Urban Americans consumed around 3000 calories per day (around 50% more than most people in Western Europe)
- Fed Gov spent more:
- $9.2 billion 1939
- $92.2 billion in 1945
- $36.5 billion in 1948
3
Q
What were the results of economic expansion
A
- Created greater employment ops in many industries e.g aircraft production, chemicals and electrical goods
- processed food productions made huge gains
- tobacco companies made vast profits
- huge migration to centres of plentiful employment
4
Q
What were the limitations of post-war prosperity?
A
- Many Americans remembered pre-war depression
- poor areas: mainly poorer areas of cities and the south
- 1947: 33% of US homes lacked running water + 40% flush toilets
5
Q
What influenced the growth of suburbs?
A
- car industry led to greater mobility and development of suburbs
6
Q
How did the car industry grow?
A
- sales of new cars rose from 69,500 in 1945 to 6.7 million by 1950
- 1950: 16,000 foreign cars on US roads
- industry dominated by Ford, General Motars and Chrysler
- 1961: 350 different models on sale
- N. of two-car families doubled between 1951-1958
- more cars in LA than whole of Asia
- General Motors wealthier than Belgium in terms of GDP
7
Q
How did the growth of cars influence other industries?
- holiday inn
- mcdonalds
A
- help develop the facilities associated with them such as roadside hotels, motels, gas stations and garages
- First Holiday Inn opened in 1952 between Memphis and Nashville in Tennessee
- 1960: 228 McDonald’s enjoyed annual sale of $37 million
8
Q
How did the road building industry develop?
A
- 1956 Interstate Highway Act
- boosted federal subsidies for road building
- created a 41,000-mile system
- main reason: evacuation in case of nuclear attack
- less public transport used:
- Passenger services on railroads lost average of $700 million per year by mid-1950s
9
Q
When and What was the GI Bill of Rights?
A
- Passed 1944
- offered grants to veterans to improve their education, learn new skills and set up businesses
- 8 million veterans took advantage of measure
- received $20 per week whilst looking for work
- veterans found many jobs available
- offered low-interest home loans
10
Q
Describe the growth of home ownership
A
- Decade following 1945: 15 million houses built
- percentage of Americans owning own home rose from 50% in 1945 to 60% by 1960
- gov-sponsored Federal Housing Administration: offered mortgages up to 90% of cost price and 4% interest
11
Q
describe the growth of suburbs
A
- % of people living in suburbs grew from 17% in 1920 to 33% by 1960
- conditions deteriorated in residential inner-city areas as they were left to the poor, often ethnic minorities
- lost funding due to “flight of the middle classes”
- suburbs saw new developments such as shopping mall
- 1946: 8 shopping malls, over 4000 by the late 1950s
12
Q
What were Levitt houses?
A
- among most famous suburban dwellings
- By 1951 the original Levittown had grown to 17,000 homes housing 82,000 people
13
Q
How did income increase?
A
- growth of suburbs and confidence led to huge consumer boom
- wages rose
- 1953 average family income $4011
- more disposable income which rose on average by 17%
14
Q
Describe the growth:
- advertising
- TV
A
- Advertising rose from $6 billion dollar industry in 1950 to over $13 billion by 1963
- By 1960 over 50 million TV’s in USA
15
Q
consumer society
Describe baby boom
A
- 1957: nappies became a $50 million per year industry
- 4 mill babies born each year between 1954-64
- 1964 40% of population had been born before 1946
