New Microsoft Office Word �档 (4)

New Microsoft Office Word �档 (4) - 1 How do you...

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1. How do you explain the revival of Europe after WWII and what were the major economic changes that occurred during the “Golden Age”? Europe in Ruins 40-60mil dead Ag 50% down, industry 66% down Many countries’ infrastructures are destroyed, hunger is widespread, and inflation is up With these conditions, Euro countries made economic decisions and changes that helped create a socio-economic climate that was prosperous between the 50’s and 70’s and was considered the ‘Golden Age’. With the creation of this socio-economic climate, a new economic class emerged; the new middle class and this class would be the building blocks of this age. Created out of new employment opportunities created by: Multinational companies New fields (managers, engineers, lawyers)New technological advances such as nuclear energy, electronics, TVs, and plastics Women also began to enter the workforce Smaller families = less time at home. Furlough’s ‘Packaging Pleasures’ Promotes consumerism/ explains consumerist ideas of new class Encouraged self growth, emphasized leisure and vacation from work (example of the tourism industry)Although this new middle class had emerged, and the style and quality of life had changed, the causes and forces that helped make this new economic
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climate were thanks to actions of many different countries. Marshall Plan (1947)US gave 13 billion $ to help Europe recover economically Europe used this to invest in raw materials in order to rebuild its infrastructure In effect; Industrial output in Europe being higher than postwar Steel production increased 70%European Welfare States Attempted to end poverty, lower unemployment, provide medical services and education for all, and insure the older citizens Provided Insurance and Health benefits for all citizens Nationalized Companies Banks, Iron, coal, Steel, Utilities Welfare Provided Education Scholarships, Daycare services, Family Allowances, and pension options These Welfare States followed the belief of the economist Keynes who said: Gov $ ? Pocket? Spending? Profits rise? Wages rise? Taxes rise? Continues. Also, to help give more job opportunities for the middle class outside of their own countries, The Common Market was formed in 1957Made of Italy, Belgium, Netherlands, Luxemburg, West Germany, and France Allowed labor to move freely across the market stabilized prices Free Trade Stable Currency With all these developments and changes to the economic climate, Real Wages were Up, Profits were Up And Unemployment close to 0. Allowing the middle class to grow, find jobs, and prosper Helping them find time and money to spend on leisure and entertainment With this new lifestyle
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founded, it was the first time middle class workers were able to provide for things beyond just their families. This is what led many to think of that time
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