Economy During The 1950's

On the heels of war, new technology caused a decrease in prices of goods in the 1920’s and in the 1950’s the GI Bill increased

During the 1950’s we see an economic boom in America. A large amount of this growth has to do with the money made by Corporations with Military Contracts making goods and supplies for the United States Military. With the Cold War beginning the push for new invention in aviation, rocket propulsion, energy, and even automobiles was at the forefront of national defense. Industrial giants like Boeing, General Dynamics, and Raytheon received 60% if their income from the Defense Department. Ten percent of the domestic (GDP) was from military spending. With fears of falling behind the Soviet Union, gaining any edge in innovation was important. The government even funneled millions of dollars into American Universities for scholarships and research

Over the past (almost) hundred years, society and education have both changed drastically. Typically, the things that have happened in history, such as wars, technological advances, and changes in culture, changed education as a result. Some of these changes include popular culture in the 1920s, economic factors in the 1930s, military intervention in the 1940s, Sputnik in the 1950s, and racial issues in the 1960s. One theme of education is that it has gradually become more important over the years. Before high school diplomas could be rare, and today most high school graduates go to college in the United States.

Economic wise, in the 1920's, demand for consumer goods and new products such as radios, electrical appliances, and automobiles led to increased production and business profits. Many of these goods were purchased using installment contracts, by which goods are purchased on credit and ownership is transferred after the last payment is made. The increasing share prices caused people to buy shares in hope of making large profits. In 1928 and 1929, the Federal Reserve System raised interest rates in an effort to slow stock market predictions. Bank failures occurred because of the stock market strained their financial resources. Banks had also loaned money to many farmers and businesses who were unable to repay it. Bank profits declined, and bank

American society during the 1950 's was an industrial society it was a time where the economy was transforming"from a wartime economy to a consumer economy". The growth in the population lead to a demand and production of "American goods [in Europe that] fuel[ed]… the American economy." and allowed for home appliances and vehicles that were only available "for [those in] the upper classes" to be affordable to those in the middle class. Not only was America an industrial society it was also viewed, at the time, as "an egalitarian society". A society where it "provides equal access to resources and prestige" (sociology dictionary.org) but sadly this was not reflected. People were sold, with the help of the media, on this false belief that

     The 1950’s were a decade of growth and expansion. Growth of the middle class, expansion of religion and a growing economy kept Americans on the move- literally. Families were moving from the cities and into the suburbs. “This massive shift in population from the central city was accompanied by a baby boom that started during World War II. Young married couples began to have three, four, or even five children (compared with only one or two children in American families during the 1930’s) (The American Story, pg. 729). This style of living began making the immediate

In the 1950s, the “happy days” as it is called was about the booming economy after World War II, it gave more people opportunity. The United States started expanding making houses, suburbs or towns, shopping centers, and corporations. With the use of William Levitt’s idea, buildings were being built and at a faster rate. Many middle-class families could afford to buy a house, parents were able to give their children what they wanted because parents were not able to have luxuries. After the war, there was an influx of soldiers returning home, many of whom looking for a job. There were not enough jobs available, so the government paid for the soldiers to go to college and further their education. During this period, it was about giving more opportunities

The economic conditions of the 1970s in America radically changed due to the decline in manufacturing. (Shultz, 2014). The decline occurred after World War II ended. Furthermore, as the supply and demand shifted in manufacturing so did employment. Stagflation came when men and women lost their jobs in manufacturing and the cost of goods steadily increased.

Before the economic crisis in 1929, the government favored individual liberty, which it did by hands of market, let people take care their own business. Government never solve the “sick” industries systems, letting money get overexpansion and decline in mass purchasing.(Hart)Market price increase, the income of labors should increase,too. However, company use that profit to expand the factories and not paying works. The whole purchasing power decrease. Uneven distribution was going on everywhere.(Hart) In addition, the whole bank system was bad, they even led banks to divert a lot of money to speculative without thinking what happened if the bank was failed.The role of government really did a “good” job on letting people do their business.

During the 1950s, Americans faced many challenges and hardships. With all of the problems that happened during the 1950s, it helped Americans become more stability for the things to come in the 1960s. In the 1960s, the United States experienced an economic boom. Unlike the economic boom in the 1920s, the economic boom in the 1960s will not be followed by a depression. The goal of President Kennedy was to reduce the unemployment rate and have an economic growth rate at 4 to 6 percent annually. Although the economy was beginning to boom, the United States will soon begin to deal with inflation.

The 1950s had a couple of huge financial pinnacles and valleys. A slight subsidence in 1954, high swelling and joblessness rates as much as 6 percent spoke to troublesome circumstances. Relentless development in the second 50% of the century yielded a spending surplus in 1956, a drop in joblessness and a blast in buyer spending. Abroad interest for American merchandise offered an extra lift to the American economy. White collar class Americans could purchase apparatuses, autos and TVs, once saved for the high society. A drop in the cost of single-family homes implied an ascent in home

1. In 1973 rising poverty, unemployment, and other serious issues, and the postwar economic boom all came crashing down (Schultz, 2013, p. 475). One of the tall, tell signs that prosperity was over there was a gasoline shortage in 1973-74. The American economy the most powerful in the world after World War II vanished quickly in the 1970s.

We designed our project to show the frivolity of America in the 50's. The purpose was to show how food was developing in a way that reflected American's prosperity and society. The ease of frozen food connected to the desire to be fast and efficient and showed how Americans could cook a meal without preparation and time needed. Frozen food also connected to the TV to show how "TV dinners" allowed for a fun relaxing evening. Drive through food encouraged spontaneous spending habits, and showed how after the war Americans had more money to spend on things of their choice. Processed food came out to furthermore show how Americans were getting used to not having to prepare everything homemade, and could now buy their food prepared because of the

Americans in the Contemporary Period had a desire to bring the economy to its full potential. With a wide economic fluctuation, Americans in the Contemporary Period experienced economic booms and depressions. Returning from the war, Veterans came home to a newly vibrant economy dissimilar to the one they previously lived through. Rising from the ruins of the Great Depression, post-war America’s Economy boomed with success from war-time industry. “Denied the luxuries of life for so many years by the Great Depression and the war, Americans went on a buying binge” (Uschan 80). Americans living in the 1940’s to 1950’s found a plethora of job opportunities, giving them more spending freedom. With a dream of home

There were several causes and some of them mentioned here, like bankruptcy of the planned economy or unsuccessful occupation of Afghanistan had to do with it. But this alone was not a reason for the communist ideology to fell.