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2. Happy Days study guide

2. Happy Days study guide - Happy Days-On the Outside...

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Happy Days? -On the Outside everyone seemed to be happy but this was not the case. -Debt is largely due to the cold war, we didn’t want to see deficits or national debt. The American Century •Return of economic prosperity. Gov’t spending- o we believed that it was our turn to rule the world-American century. o Govt continues to pump money into economy (infrastructure, Nuclear race, schools) o Best economy in the world after WWII. o Many feared another Great Depression after the war. Quality goods we made the best stuff Pent up demand unleashed - Servicemen’s Readjustment Act (1944) this was an effort to ease our troops back into. gave them some money right before they got out of the army and if they cant find a job then you get a years worth of unemployment benefits (worker’s compensation and causes a democratization of education), college scholarships. the troops were from wealthy households. triple the amount of vets in school by 1949 40% we have the most educated work force in the world “GI Bill of Rights” Social revolution People start expecting their kids to go to college , higher expectations. Consumer Culture •Homeownership more people owning homes, more people moving out of farms to suburbs Suburbia (Keeping up with the Joneses) Appliances o vacuum cleaners, washers and dryers, run of off electricity Television •Advertising Wean American’s off of traditional frugality.
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