APUSH Crap - 4. By 1970 blah blah: Economic Evidence o...

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4. By 1970 blah blah: Economic Evidence o Middle class doubled and included 60% of Americans by 1950’s o Medicare provided for Americans. Cultural Evidence o Able to put 2 cars in every garage, swimming pools in backyards, vacation homes, and gas guzzling recreational vehicles. o By 1960, 90% owned a TV, 60% owned own homes. 5. What fed the post war boom?: During WWII, other countries were fighting, but US used it to rebuild its economy. The colossal military budgets played a big part in our prosperity of ‘50s and ‘60s the “permanent war economy”- prep for war in Korea, and defense spending made up 10% of the GNP. Pentagon dollars put into high tech industries like aerospace, plastics, and electronics. Military budget also financed research projects like RanD. Cheap energy- oil, electricity. Changes in the nation’s basic economic structure: shift of the work force out of agriculture. Family farm giant agribusinesses. The US just came out of its two decade span of growth.
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This note was uploaded on 08/31/2010 for the course AMER HIST 45213 taught by Professor Platt during the Spring '10 term at University of California, Berkeley.

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APUSH Crap - 4. By 1970 blah blah: Economic Evidence o...

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