The economy in the 1950s and Consumer Society Flashcards
What % of the world’s manufacturing output was from America in the 1950s?
50%
What did GNP increase from between 1950 to 1960?
$300bn in 1950
$500bn in 1960
How did defence spending increase between 1948 and 53. Why was there this increase?
4% of the GNP in 1948
13% of the GNP in 1953
Due to the Korean War
What % of households owned a TV by 1960?
Almost 90%
How did WW2 lead to the American economy growing?
People didn’t want to buy consumer goods so there was a back up of demand as people now want to buy them. Also, people spent far less money in wartime so they now had savings and could spend more
How did Foreign Aid lead to a growing economy?
America gave dollars to other countries so that they would buy American products
What impact did the Baby Boom have on the economy?
The increase in parenthood meant many more markets and industries were created. Demand for clothes, cars, baby products and food increased. Markets followed the baby boom as they got older eg bikes
How many cars and trucks were on American roads in 1956?
75 milion
For what reasons did the car industry do so well in the 50s?
- To achieve the American dream you needed a car
- The Interstate Highways Act massively improved the roads in America
- Consumerism was encouraged and cars quickly became a status symbol
How did listening to music change in the 1950s?
It became more accessible as Hi-Fi sets entered the scene and changed how people listened to music
What music artist became hugely famous and what genre did they bring with them?
Elvis Presley and Rock n Roll emerged and grew hugely in popularity with the youth in America as his sexual dance moves would require him to be filmed from the waist up
How did film change?
It reached a wider audience now millions of people watched TV as a luxury and actors started to express emotions differently with more emotions
Which actor and film became a cultural icon in the 1950s?
James Dean in the film Rebel Without A Cause
How did advertising change in the consumer society?
With the increased use of radio and TV, advertising became massively influential and important with advertisers spending $10bn a year
How many Americans moved into suburbs by the end of the 1950s?
A quarter of the population