ECO 2021950’s U.S. Economic History Overview•Men come home from WWII and start families- the baby boomer generation•Suburbs begin forming•Vietnam war starts and ends•Cold war tensions•Korean war•Eisenhower elected•Segregation in schools is declared unconstitutional •Rosa Parks is arrested •TV becomes popular
ECO 202GDP Expansion•1950: Korean war causes an increase in GDP•1950: TV, marketing, and credit cards cause a rise in consumerism •1955: Vietnam war causes an increase in GDP •2 relatively mild recessions in 1953/54 and 1957/58.Figure one: Gross Domestic Product, U.S. Bureau of Economic Analysis.
ECO 202GDP: Important Events •Korean War•Interstate Highway SystemFigure two: Unemployment Rate by Year Since 1929 Compared to Inflation and GDP. Amadeo, K.
ECO 202Unemployment•Figure three: Civilian Unemployment Rate, U.S.