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ECO 202THE YEAR 1950’S- POST COLD-WARLACEY HOENSHELLECO 202DR. HUNTERFINAL PROJECT
ECO 202TEN-YEAR PERIOD OF U.S. ECONOMIC HISTORY OVERVIEW•The ten year time period that I choose was 1950’s since it was right after the Cold War. Things seem to really take off in Economic History during this time. For instance:•Military Power•New cars •New construction of homes•Consumer goods were available more then ever before.•Then there was the civil rights movement. What started it was the NAACP activist who refused to give up her seat on a public bus to a white man (history, 2019). Then there was the Brown vs. Board of Education. Which started the segregation of black and white students in schools.
ECO 202GDP (SLIDE 1)Figure 1. (U.S. Bureau of Economic Analysis, 2019).
ECO 202GDP (SLIDE 2)Figure 2. (National Bureau of Economic Research, 2019).
ECO 202UNEMPLOYMENT AND INFLATION (SLIDE 1)Figure 3. (U.S. Bureau of Labor Statistics, 2019).
ECO 202UNEMPLOYMENT AND INFLATION (SLIDE 2)Figure 4. (U.S. Bureau of Labor Statistics, 2019).
ECO 202UNEMPLOYMENT AND INFLATION (SLIDE 3)Figure 5 (U.S. Bureau of Labor Statistics, 2019).
ECO 202UNEMPLOYMENT AND INFLATION (SLIDE 4)Figure 6. (U.S. Labor of Statistics, 2019).
ECO 202INTEREST RATES Figure 7. (Board of Governors of the Federal Reserve System, 2019).
ECO 202FOREIGN TRADE: IMPORTS AND EXPORTSFigure 8. (U.S. Census Bureau, 2019).
ECO 202FOREIGN TRADE: IMPORTS AND EXPORTSFigure 9. (U.S. Census Bureau, 2019).
ECO 202FOREIGN TRADE: MODELSFigure 10. (U.S. GDP Overview, 2019).
ECO 202FISCAL POLICY• Prior to the 1950’s when President Truman was in office one of the policies he fought for was the Fair Deal in 1949. During this time the economy started to slow, unemployment and inflation raised during this time. • 1950 Truman was more concerned with a “healthy economic growth, viewing ever-larger budget deficits as temporary expedients” (Pach, n.d). This was something that following administrations would follow as time went on. • Due to the war’s the unemployment rates stayed low, inflation stayed the same and hording of consumer goods subsided quickly and military production increased. The one thing that did happen that the American people weren’t happen about was the control on credit.