Rule of overseeing a household is picking the things you need in your house o

Rule of overseeing a household is picking the things

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Rule of overseeing a household is picking the things you need in your house o Excessive saving is seen as a problem o 1947 Disney introduces Scrooge McDuck to demonize saving all of your money o “rise of the consumer republic” American Prosperity: - Output of goods double from 1946-1956 & double again by 1970s - By 1960s 75% of families owned a car, 87% owned a TV, & 75% owned a washing machine o Participating in consumer revolution o Low inflation increasing purchasing power - American factories running at high efficiency - Unions play a role in economic strength o 1950s 1/3 of American workers belong to a union o Higher wages, health insurance, retirement-raise standard of living - Small dips that would lead to even stronger boom - Life expectancy is higher o Eating more meat per capita than ever before GI Bill: - Provides cash & income potential for American who want to participate in consumer republic - Give vets money to help them when they are looking for work - Education- education benefits to service men o Why? Prevent job market from being overwhelmed by vets looking for jobs o Tuition and living expenses o 50% of vets participate - Give money to economy to keep economy from entering a recession - Rapidly expanding middle class - Gives more people to become part of the American Dream - Make more money, pay more taxes The Classless Society? - Expanding the pie o Slices were getting bigger o Smaller slices would see standard of living increase - Closest to being successful at eliminating class system Mass Consumption:
- Battle with USSR (communism) - Consumption key part of what America is trying to sell the rest of the world - 1959 Nixon & Krushchev’s “Kitchen Debate” o Demonstration what it’s like to live in USSR or USA o USSR-factory, modernized a backward country o USA-demonstrates tv, modern appliances, ranch homes o Start making fun of one another USSR all people have a home they don’t worry about stupid things like having a washing machine - Triumph over Communism o Believed way of life was going to win the Cold War o Developing countries would want the things we have A Suburban nation: - Baby Boom o Income on the rise, family size is increasing as well o 1946-1964 increase in birth rate o Return of service men o 1950s avg marriage age 20 o 50% 1 st kid within 7 months of marriage - Home construction o American Dream-house in the suburbs o Offering loans through BA & FHA o Offering mortgages at low rates, making it easier to buy o Levittown in 1957 Epitomize 1950s living Ranch homes William J. Levitt-veteran Housing community, that would be affordable for middle class working families NJ, Penn. o Simple, quickly constructed, almost all identical about $8,000 o Housing only for white families o 50,000 people housed in one of these developments Buy Baby Buy: - After you buy a house you have to fill it with goods - Shopping malls start popping up - 1956 1 st mall in Minneapolis - Changes purchasing-used to go downtown & walk around money would stay in our community - Rise of discount store o 1962 1 st Target o 1962 Walmart opens o High volume, small mark-ups - Need a car to shop, you’re going further away from home to shop

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