2. Economic Impact Of Ww2 And Post-war Developments (Changes By The 1960s) Flashcards
What did ww2 enabled the USA to do
Expand industrial and military complexes- created many jobs to end unemployment.
Many AA? And women now able to get jobs
What did conscription do?
Resolved unemployment, over 16 million men and women served in the US armed forces.
How many people unemployed in 1944 compared to 39?
44- 670,000
39-9.5 million
What did wartime production lead to
Traditional industries e.g coal, iron, steel and oil greatly expanded.
Arms production also increased and by end of 1944 US was producing half the weapons in the world.
What were war bonds and what did they lead to when cashed in?
•People ncoursged to buy government bonds to help finance the war effort.
•When cashed out resulted in a surge in house building (low interest rates for servicement) and rationing was left behind (consumer goods being bought)
American average standard of living compared to British in 1960s
X3 British
How many women joined the work force in ww2?
7 million
Why did affluence increase?
•Savings from ww2 and cashed in war bonds were being spent on consumer goods that were luxuries rather thsn necessities d.g tv & cars
•Improved efficiency of work force meant consumer goods could be produced faster and cheaper.
•pop growth resulted in higher demand of goods.
•Korean war and cold war meant US industry was kept busy
What were Americans now encouraged to do?
Spend and shopping became a popular recreational activity- example of affluence
What was suburbanisati9n
Suburbia was a new development plan in late 1940s+50s where many middle-class families abandoned the centre of cities and moves to new homes in the suburbs.
What was the first suburb
Levittown
Factors for suburbanisation
•Embodied ‘American dream’ for many young couples as a place where they could own their own home and raise children away from dangers of city life.
•houses reasonably priced and made affordable through low interest mortgages.
•most families had atleast 1 car sk didn’t need to live close to their work
How much did the baby boom increase population by
40 million
Hiw many people owned homes by 1960
33 million
Who missed out on this ‘age of affluence’
Many Americans, including black Americans. In 1959, 29% of the population lived below the poverty line.
People living in southern states remained well behind the north or west coast in terms of income.
