The Post-War Promise Flashcards
Definitions
Income Parity?
By the 1950s, the U.S. was the world’s leading economic power, producing half of global goods and earning over 40% of global income. Its economy thrived due to minimal war damage, technological innovation, and a high standard of living. The U.S. also shaped global finance, establishing institutions like the IMF and World Bank.
New Car Culture
New car culture highlights how cars shape society. They symbolize freedom, status, and the American Dream, while also influencing urban planning and cultural heritage. Electric vehicles reflect a shift toward sustainability. Millennials are driving less and delaying car ownership. The future of transportation may focus on sustainability and social connectivity.
Economic Stagnation
Economic stagnation refers to a prolonged period of slow economic growth (below 2%), characterized by reduced industrial production, higher unemployment, and lower earnings and consumer spending. It is explained by theories like Keynes’ Stagnation Thesis, which attributes slowing growth to fewer investment opportunities in mature economies, and the Great Stagnation Theory, which suggests economic slowdown results from a lack of new transformative technologies.
Stagflation, a related phenomenon, combines slow growth, high inflation, and high unemployment, as seen in the 1970s due to government deficits, low interest rates, an oil crisis, and the breakdown of fixed currency exchange rates.
The Age of Affluence and Anxiety
The Age of Affluence and Anxiety describes 1950s America, a time of economic prosperity with rising living standards, suburban growth, and consumer culture. Despite this affluence, fears of nuclear war, Cold War tensions, and pressure to conform created widespread anxiety. Hidden inequalities in race, gender, and class added to the unease, making it a paradoxical era of wealth and worry.
Advertising enters the Modern Age
The more these goods were advertised, the higher the demand they received. Increased demand meant more workers were needed, so more Americans were receiving wages. These were then reinvested into the economy through the buying of more goods, creating the cycle of consumerism that led to the economic boom of the 1920s.
HUAC
The Un-American Activities Committee (UAC) was created in 1938 to investigate suspected disloyalty and subversive activities, particularly focusing on individuals, public employees, and organizations believed to have Communist ties. Those accused of being affiliated with the Communist Party were often subjected to legal trials. The committee became a key part of the U.S. government’s efforts to combat Communism during the Cold War, contributing to widespread fear and scrutiny of suspected radicals.
Suburbanization
Suburbanization is the movement of people from cities to surrounding suburbs, driven by factors like housing demand, legislation, transportation, and marketing. While it offers benefits such as more space and stronger community engagement, it also has negative effects, including racial disparities, environmental harm, and urban decay. Other consequences include the concentration of poverty in cities, the weakening of central urban structures, and reduced access to jobs for inner-city residents. The history of suburbanization includes the rise of “streetcar suburbs” in the late 19th and early 20th centuries, where streetcars and trolleys allowed middle-class families to choose neighborhoods that fit their needs.
William Levitt and Levittown
William Levitt, known as the “father of suburbia,” was a pioneering real estate developer who created Levittown, a large-scale, mass-produced housing development on Long Island, New York. Designed to address the post-World War II housing crisis, Levittown provided affordable homes for returning veterans, popularizing suburban living with efficient construction techniques and standardized designs. Levitt applied assembly-line methods to quickly build nearly identical homes, enabling large-scale production. While Levittown became a model for suburban development across the U.S., it was criticized for its racial segregation policies, as early developments excluded non-white buyers.
Joseph McCarthy
Joseph Raymond McCarthy (November 14, 1908 – May 2, 1957) was a U.S. Senator from Wisconsin and a prominent figure in American politics during the early years of the Cold War. A Republican, McCarthy served in the Senate from 1947 until his death at age 48 in 1957. He is most infamously remembered for his role in the anti-Communist crusade of the 1950s, a period known as “McCarthyism.” McCarthy led highly publicized investigations, accusing numerous government officials and public figures of Communist ties, often without solid evidence, which fueled widespread fear and paranoia during the Red Scare. His methods eventually led to his censure by the Senate in 1954.
