The US Economy In The 1940s-1950's
Shortly after the end of the war in 1919, America began a consumer boom that led to an increase in inflation, after which the Federal Reserve Bank began to raise the discount rate.
The US strengthened its military, political, economic, technological and ideological leadership in the Western world. They abandoned the principle of non-participation in military blocs in peacetime. American troops were deployed on an ongoing basis in Europe and the USSR. The US industryexplained a colossal recovery through the transition of the economy to military races. Employment increased from 54 million in 1940 to 64 million in 1945.
In December 1921, the Fed lowered its discount rate to 4.5% and a long period of economic growth began in the 1920s (Roaring …show more content…
Twenties, as they were called Americans), the "jazz era" and the world of "the great Gatsby" 80, sung by Scott Fitzgerald in the novel "The Great Gatsby" and other books. The twenties were called the "decade of the dollar" and the "new era", and the beginning of "general prosperity" was proclaimed by President Calvin Coolidge - the prosperity associated with new technologies: automotive, electrical and radio engineering.
The development of the automotive industry in the United States has stimulated other industries related to metalworking, oil extraction, etc. When the "universal motorization" fashion emerged in America, Ford cars became available to ordinary middle-class representatives. It was believed that every family from this social group should not only have their car, but also move from an apartment to a suburban cottage, accessible due to the presence of a car.
Along with the rise in the US economy, a consumer boom began - shops were in demand for washing machines and vacuum cleaners that were not widely used in Europe; Only in one New York car was the same as in the whole of Germany. The quality of life in America as a whole was much higher than in European countries: workers in enterprises received $ 6 per day, and in Europe - at best $ 2.
In the first years after the Second World War, the United States occupied the dominant position in the world. The country was almost not affected in this great battle, and the American people were filled with the consciousness of their mission both in domestic and international affairs. Defending democracy at great cost and effort, the US government sought to strengthen it and create all conditions for prosperity.
In 1948, President Truman put an end to segregation in the US Air Force, in 1954 the Supreme Court of the country abolished the separate training of white and black Americans in schools, and in 1957 Congress for the first time since the Reconstruction legislatively enshrined the civil status of African Americans - as wholly and fully equal members of society.
Although some government reforms left a feeling of dissatisfaction, in general in the United States in the late 1940s-1950s, the moods of accepting life and hopes for the future prevailed.
The economy of the country was stable, America became a state of "equal consumers", economically prosperous and providing all its members with equal material and cultural conditions.
The life of the workers changed as the industrial America itself changed. Employment in the service sector prevailed over employment in industry. By 1956, the majority of those who received wages had "white-collar" professions of managers, teachers, sellers and clerical employees. Some firms guaranteed annual wages to employees, signed long-term contracts with them, and provided other benefits. In this connection, the activity of the working class gradually declined and some of its characteristic features began to disappear.
The economic recovery took place for a number of reasons. One of them is the growth of cars; for 1946-1955. it increased 4-fold. Housing construction was growing rapidly, in part because of the provision of concessional housing loans to former servicemen. GNP also increased due to the growth of military expenditures. The farming industry was going through difficult times. On the one hand, there was an enlargement of part of the farms, increasing their productivity, and among farmers there appeared more and more big businessmen. On the other hand, the situation of family farms worsened, their competitiveness fell, and the number of those who stopped working on the ground
grew.
There was another, more widespread form of resettlement of Americans - from urban centers to the outskirts. There, they expected to get more spacious dwellings for their families, who grew up as a result of the postwar "boom" of the birth rate.
As the outskirts grew, the business covered all new areas. Large shopping centers with a huge range of products have changed the style of consumption.
The US strengthened its military, political, economic, technological and ideological leadership in the Western world. They abandoned the principle of non-participation in military blocs in peacetime. American troops were deployed on an ongoing basis in Europe and the USSR. The US industryexplained a colossal recovery through the transition of the economy to military races. Employment increased from 54 million in 1940 to 64 million in 1945.
In December 1921, the Fed lowered its discount rate to 4.5% and a long period of economic growth began in the 1920s (Roaring …show more content…
Twenties, as they were called Americans), the "jazz era" and the world of "the great Gatsby" 80, sung by Scott Fitzgerald in the novel "The Great Gatsby" and other books. The twenties were called the "decade of the dollar" and the "new era", and the beginning of "general prosperity" was proclaimed by President Calvin Coolidge - the prosperity associated with new technologies: automotive, electrical and radio engineering.
The development of the automotive industry in the United States has stimulated other industries related to metalworking, oil extraction, etc. When the "universal motorization" fashion emerged in America, Ford cars became available to ordinary middle-class representatives. It was believed that every family from this social group should not only have their car, but also move from an apartment to a suburban cottage, accessible due to the presence of a car.
Along with the rise in the US economy, a consumer boom began - shops were in demand for washing machines and vacuum cleaners that were not widely used in Europe; Only in one New York car was the same as in the whole of Germany. The quality of life in America as a whole was much higher than in European countries: workers in enterprises received $ 6 per day, and in Europe - at best $ 2.
In the first years after the Second World War, the United States occupied the dominant position in the world. The country was almost not affected in this great battle, and the American people were filled with the consciousness of their mission both in domestic and international affairs. Defending democracy at great cost and effort, the US government sought to strengthen it and create all conditions for prosperity.
In 1948, President Truman put an end to segregation in the US Air Force, in 1954 the Supreme Court of the country abolished the separate training of white and black Americans in schools, and in 1957 Congress for the first time since the Reconstruction legislatively enshrined the civil status of African Americans - as wholly and fully equal members of society.
Although some government reforms left a feeling of dissatisfaction, in general in the United States in the late 1940s-1950s, the moods of accepting life and hopes for the future prevailed.
The economy of the country was stable, America became a state of "equal consumers", economically prosperous and providing all its members with equal material and cultural conditions.
The life of the workers changed as the industrial America itself changed. Employment in the service sector prevailed over employment in industry. By 1956, the majority of those who received wages had "white-collar" professions of managers, teachers, sellers and clerical employees. Some firms guaranteed annual wages to employees, signed long-term contracts with them, and provided other benefits. In this connection, the activity of the working class gradually declined and some of its characteristic features began to disappear.
The economic recovery took place for a number of reasons. One of them is the growth of cars; for 1946-1955. it increased 4-fold. Housing construction was growing rapidly, in part because of the provision of concessional housing loans to former servicemen. GNP also increased due to the growth of military expenditures. The farming industry was going through difficult times. On the one hand, there was an enlargement of part of the farms, increasing their productivity, and among farmers there appeared more and more big businessmen. On the other hand, the situation of family farms worsened, their competitiveness fell, and the number of those who stopped working on the ground
grew.
There was another, more widespread form of resettlement of Americans - from urban centers to the outskirts. There, they expected to get more spacious dwellings for their families, who grew up as a result of the postwar "boom" of the birth rate.
As the outskirts grew, the business covered all new areas. Large shopping centers with a huge range of products have changed the style of consumption.