4.1 How far was the US economy transformed 1945-55 Flashcards
(61 cards)
how did america economically dominate japan and germany after ww2
-in germany, heavy bombing and fighting had destroyed factories. houses and roads
-japan suffered heavy bombing and a major economic blockade which gravely damaged production
why did employment in war time industries continue into peacetime?
-aircraft and shipbuilding continued due to emerging tensions of the cold war
-the US remained in a period of military preparedness in anticipation of the global conflict with the USSR
how did growth of disposeable income sustain domestic demand
-demand for cars increased
-in 1946, car production was 2 million and by 1955 it had risen to 8 milion
how did the growth of the car industry increase employment industries
-more jobs for skilled workers involving higher wages
-the growth of the clerical sector in these industries also opened up job oppurtunities for women
-companies like Ford, General motors and Chrysler expanded to become some of the biggest corporations in the usa
how did the expansion of the US retail sector increase employment opportunities
-in 1945, there were only 8 shopping centres in the USA
-by 1960, there were around 4,000
-these stores offered new job opportunities for unskilled and semi skilled workers
-the new shopping centres sold tvs. labour saving devices, refridgerators,toasters,
how did the aircraft industry promote new job opportunities
-with the development of the jet engine
-initially the US purchasws jet engines from the UK
-but by 1958, US firm Boeing had produced the 707 four engine jet airliner
-domestic civilian aviation led to a declien in railway
-more jobs in the aeronautical engineering sector, high skilled, high wages
how did technological developments lead to opportunities in computing
-in 1944 Harvard uni produced the first general purpose computer
-by 1947 the US army had produced its own computer
-by the early 1950s, computers began to appear in US business and industry leading to a communications and data revolution
how did the growth in the us economy lead to a growth in white collar jobs
-workers who work in offices
in 1956, for the first time in US history, had more white collar workers than blue collar workers
-eg chemical industry rose 3% in blue collar workers 1947-52, but the white collar workforce increased by 50%
What major industry grew significantly in the USA between 1946 and 1955?
The car industry
Car production quadrupled during this period.
What percentage of the world’s cars and trucks did the USA produce in 1950?
Two-thirds
This indicates the dominance of the US car industry at that time.
How many cars and trucks did the US produce in 1955?
9.2 million
The UK produced only 1.3 million, and Japan produced 69,000.
Which three corporations dominated the car industry in 1955?
- General Motors
- Ford
- Chrysler
All three were based in Detroit, Michigan.
What societal change was linked to the widespread availability of cars?
The growth of suburbs
Greater mobility allowed Americans to live further from city centers.
What was the impact of cars on the domestic tourist industry?
It aided its growth
Americans could drive to visit other parts of the USA.
What was the world’s first credit card introduced in 1950?
Diner’s Club
American Express followed in 1951.
What was the increase in short-term credit from 1946 to 1958?
From $8.4 billion to $45.6 billion
This increase was mainly for consumer purchasing.
What marketing strategy contributed to increased demand for cars?
Built-in obsolescence
Manufacturers released new models annually with innovations.
What significant car model was produced by Pontiac in 1955?
Sensational Strato-Streak V-8
It could go twice as fast as the official speed limit.
How much did federal spending on highways increase from 1946 to 1960?
From $79 million to $2.6 billion
This expenditure supported car production.
What did the rapid growth in car ownership facilitate?
The growth of suburbs
It allowed more Americans to live outside urban centers.
What was the percentage increase in the suburban population during the 1950s?
Ten percent
The number of suburban houses nearly doubled.
What legislation assisted many former GIs in acquiring mortgages?
The GI Bill
This contributed to the housing demand in suburbs.
Who was a key figure in the development of suburbia?
William Levitt
He built Levittown and utilized government mortgage guarantees.
How many houses did William Levitt build on Long Island?
10,600 houses
These houses were occupied by over 40,000 people.
