11- postwar economy

11- postwar economy - Postwar Economy: Emergence of...

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Postwar Economy: Emergence of consumer Society I. Economic Growth i. Fundamental to everything ii. Put’s America’s standard of living on top of all nations iii. Profoundly changes American society 1. Creates the world we’re used to today iv. Justifies the Cold War b. Extent i. Gross national Product went up about 40% ii. Income went up about 30% iii. Always groups left out even thought the economy was booming 1. African American 2. Native American iv. Impact 1. Most Americans believed that the prosperity would never end 2. No matter what you did – you would prosper and join the middle class v. Creates a new standard of living 1. Owning a House, a car 2. Having a washing machine/dryer 3. This isn’t the norm before vi. Why does it happen at the END of the war? c. Sources i. Research and Development 1. Electronics industry a. American’s are getting access to electricity from the New Deal – REA. b. Gives you access to radios, TV, washing machines, etc.
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2. Perfecting certain implements on aeronautics a. Put to use in commercial industry 3. Chemical Industry a. Synthetic rubber Tires ii. Government spending 1. Deficit spending by the government brought prosperity
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11- postwar economy - Postwar Economy: Emergence of...

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