APUSH ch 26 outline - Amit Bapat Chapter 26 Per 6 The Cold...

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Amit Bapat Chapter 26 Per 6The Cold War Abroad and at Home, 1945-19521.The Postwar Political Setting, 1945-1946Demobilization and ReconversionMany veterans were faced housing shortage & divorce; couldn’t adjust to wives having more powerAlso worried automation-machines performing industrial operations faster and more accurately than human workers- would replace them; or the stalled unionization drive would depress wages.Many women did not reenter factories; they took jobs in womens fields to pay for family’s needsCulture romanticized married bliss and demonized career women as a threat to social stabilityThe G.I Bill of Rights1944- Servicemen’s Readjustment Act- forestall the expected recession by easing veterans back to the workforce & reward the “soldier boys” and reduce fears of female competitionGave veterans priority for many jobs, occupational guidance, and unemployment benefits. Also estab veterans hospitals and provided low interest loans to returning GIs who were starting businesses or buying homes→ many homes bought by govt loans→ suburbanization→ demand for new goods & servicesAlso promised to pay veterans further education & job training, some opposed saying it opened door to socialism or demands by minorities to special entitlements.More veterans went to college→ huge inc in higher edu and creation of colleges, many wanted higher degreeTo make room for GI’s, colleges limited % of women admitted. GI bill democratized higher edu- allowed more ppl to attend higher edu; followed by their children; universities awarded many degreesGI bill & money spent by govt fueled the upward mobility of veterans, enabling them to return in income taxes the money advanced to them by govt; veterans became middle classThe Economic Boom Begins1945 tax cut→ corporate investment in new factories & equip & helped produce an economic boom in 1946Ppl began to spend saved $$ on new consumer goods like kitchen appliances, tv, cars, freezers, etc1944- Bretton Woods agreement- created internat monetary fund to stabilize exchange rates by valuing other currencies in relation to the dollar. Estab the international bank for reconstruction & development to help rebuild asia & Europe. Also laid the groundwork for 1947 general agreement on tariffs and tradeSince many nations= in ruins, Americans could import raw materials cheaply w/ little compet & inc exportsTruman’s Domestic ProgramOnly major domestic accomplishment was employment act 1946- committed the govt to ensuring econ growth and estab the council of economic advisers to confer with the pres & formulate policies for maintaining employment, production, and purchasing power. Cong gutted goal of full employment and enhanced exec powers to achieve that objective, blocking truman’s main effort to advance beyond new dealNations chief econ prob= inflation- consumer demand outran supply of goods, inc pressure on prices. Office

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