Post War Prosperity Flashcards
(125 cards)
1
Q
What was a fear that some returning veterans had?
A
That their jobs would be gone and that they would be unemployed.
2
Q
When was the post-war recession?
A
1946-1947
3
Q
What were some fears regarding the immediate post-war recession?
A
That it heralded the new Great Depression.
4
Q
What was the name of Truman’s New Deal spin off policy?
A
The Fair Deal
5
Q
What was the Gross National Product in 1940?
A
$200 thousand million
6
Q
What was the Gross National Product in 1960?
A
$500 thousand million
7
Q
What year was the Gross National Product $200 thousand million?
A
1940
8
Q
What year was the Gross National Product $500 thousand million?
A
1960
9
Q
Under Truman’s Government how much unemployment was there?
A
Never more than 5%, that’s for sure!
10
Q
What happened to the number of automobiles annually produced from 1946-1955?
A
It quadrupled
11
Q
Between which years did the annual number of automobiles produced quadruple?
A
1946-1955
12
Q
How much does Britain owe in war loans?
A
$31 billion
13
Q
How much does France owe in war loans?
A
$3.2 billion
14
Q
How much does China owe in war loans?
A
$1.6 billion
15
Q
Gen Post War (4)
A
- Fears About Post War Economy (6)
- Post-World War II Economic Growth in the U.S. (5)
- Sources of Economic Growth (3)
- The US and the global economy
16
Q
Gen Post War (4)
1. Fears About Post War Economy (3/~4)
A
a. The war economy won’t last forever.
d. Truman wants to carry on the ideas of The New Deal calling his new policy The Fair Deal.
e. Truman and Congress took steps to address the economic downturn.
f. The Employment Act (2)
17
Q
Gen Post War (4)
1. Fears About Post War Economy (6)
f. The Employment Act (2)
A
i. Created the Council of Economic Advisors
ii. Their job was to help Truman maximize national employment.
18
Q
- Post-World War II Economic Growth in the U.S. (~4)
A
a. The U.S. experienced phenomenal economic growth in the decade and a half after World War II
b. Gross National Product (GNP) jumped from about $200 thousand million in 1940 to more than $500 thousand million in 1960.
c. The U.S. consolidated its position as the world’s richest country.
d. More and more Americans considered themselves part of the middle class.
e. Under the Truman Government unemployment was never higher than 5%.
19
Q
- Sources of Economic Growth (3)
A
a. The automobile industry (1)
b. A housing boom (1)
c. The rise in defence spending as the Cold War escalated.
20
Q
- Sources of Economic Growth (3)
b. A housing boom fuelled the expansion. (1)
A
i. Easily affordable mortgages for returning servicemen stimulated the housing boom.
21
Q
- The US and the global economy
A
a. USA is the dominant force in the global economy at the end of WW2.
b. To retain this dominance, the USA needs to go back to peaceful trading with partners in Europe and the Pacific.
c. Growing Economies in Europe and Asia (4)
22
Q
- The US and the global economy
c. Growing Economies in Europe and Asia (4)
A
i. Growing economies in Europe and Asia would allow countries to pay back war loans from the USA.
ii. Britain owes $31 billion.
iii. France owes $3.2 billion.
iv. China owes $1.6 billion.
23
Q
What’s a merger?
A
i. Mergers refer to the combination of two or more companies into a single entity.
24
Q
By what year did a majority of workers hold white-collar jobs?
A
1956
25
Specific People more direct Impact (3)
1. Major Corporations in Post-World War II America (6)
2. Workers in Post-World War II America (5)
3. Farmers in Post-World War II America (4)
26
Specific People more direct Impact (3)
1. Major Corporations in Post-World War II America (6)
a. Major corporations in America grew even larger after 1945.
b. Earlier waves of mergers occurred in the 1890s and in the 1920s, and in the 1950s another wave occurred. (5)
c. New conglomerates led the way. (1)
d. International Telephone and Telegraph bought: (5)
e. Smaller franchise operations like McDonald's fast-food restaurants provided still another pattern.
f. Large corporations also developed holdings overseas. (1)
27
Specific People more direct Impact (3)
1. Major Corporations in Post-World War II America (6)
b. Earlier waves of mergers occurred in the 1890s and in the 1920s, and in the 1950s another wave occurred. (5)
i. Mergers refer to the combination of two or more companies into a single entity. This is typically done to:
ii. Achieve economies of scale
iii. Reduce competition.
iv. Increase market share.
v. Gain access to new technologies or markets.
28
Specific People more direct Impact (3)
1. Major Corporations in Post-World War II America (6)
c. New conglomerates led the way. (1)
What are conglomerates?
i. Firms with holdings in a variety of industries
29
Specific People more direct Impact (3)
1. Major Corporations in Post-World War II America (6)
d. International Telephone and Telegraph bought: (5)
i. Sheraton Hotels
ii. Continental Baking
v. And many more…
30
Specific People more direct Impact (3)
1. Major Corporations in Post-World War II America (6)
f. Large corporations also developed holdings overseas. (1)
i. Labor costs were often lower in foreign countries.
31
Specific People more direct Impact (3)
2. Workers in Post-World War II America (5)
a. Workers found their own lives changing as industrial America changed.
b. Fewer workers produced goods, more provided services.
c. By 1956, a majority held white-collar jobs. Eg: (4)
d. Some firms granted a guaranteed annual wage, long-term employment contracts, and other benefits.
e. Changes in labour patterns (2)
32
Specific People more direct Impact (3)
2. Workers in Post-World War II America (5)
c. By 1956, a majority held white-collar jobs. Eg: (4)
Obvs not straight memorisation but rather for the accuracy of the vibes given.
i. Corporate managers
ii. Teachers
iii. Salespersons
iv. Office employees.
33
Specific People more direct Impact (3)
2. Workers in Post-World War II America (5)
e. Changes in labour patterns (2)
i. Labour militancy was undermined.
ii. Some class distinctions began to fade.
34
Specific People more direct Impact (3)
3. Farmers in Post-World War II America (4)
a. Gains in productivity led to a trend toward larger and fewer farms, as smaller farms were consolidated or forced out of business by larger, more efficient operations.
b. Advances in technology (4)
c. Family farms found it difficult to compete.
d. More and more farmers left the land.
35
Specific People more direct Impact (3)
3. Farmers in Post-World War II America (4)
b. Advances in technology (4)
i. Such as introductions of new machines or fertiliser.
ii. Allowed more crops with less labour.
iii. Drives down prices.
iv. Greater supply led to lower demand.
36
By what year did California have more people than New York?
1963
37
Can you give one big example of a well-known housing developer of the time?
William J. Levitt
38
How many shopping centres were there at the end of WW1?
8
39
How many shopping centres were there in 1960?
3,840
40
By which year were there 3840 shopping centres?
1960
41
What year was the highway act passed?
1956
42
How much money did the highway act provide to build roads?
$26 thousand million
43
The purpose of The Highway Act was to build more than how much road?
more than 64,000 kilometres
44
Which Act:
i. Provided $26 thousand million.
ii. The largest public works expenditure in U.S. history.
iii. Purpose of funds: build more than 64,000 kilometres of federal roads to link together all parts of the country.
The Highway Act
45
How many car sales were there in 1946?
2.1 Million
46
In which year were there 2.1 Million car sales?
1946
47
How many car sales were there in 1955?
7.9 million
48
In which year were there 7.9 million car sales?
1955
49
In 1946, how many television sets were there in the country?
fewer than 17,000
50
In which year were there fewer than 17,000 television sets in the country?
1946
51
By 1949, how many TV sets were bought per month.
250,000
52
By which year were 250,000 TV sets being bought per month?
1949
53
By 1960, what proportion of families had at least 1 TV set?
1/4
54
By which year did a quarter of families have at least 1 TV set?
1960
55
In the middle of the 1960s, the average family watched television for how many hours a day?
4-5
56
Movement, suburbanisation, etc. (6)
1. The African American Migration (3)
2. Population Growth in the West and Southwest (4)
3. Suburbanization in Post-World War II America (4)
4. Growth of Suburbs in Post-World War II America (2)
5. New Highways in Post-World War II America (3)
6. Impact of Television on Social and Economic Patterns in Post-World War II America (5)
7. Music??? (2)
57
Movement, suburbanisation, etc. (6)
1. The African American Migration (3)
a. They move in large numbers from the South to northern and northeastern cities.
b. Why? (4)
c. This migration improved their overall economic status
58
Movement, suburbanisation, etc. (6)
1. The African American Migration (3)
b. Why? (4)
i. The Great Depression
ii. The invention of the mechanical cotton picker in the 1940s
iii. World War II
iv. The prospect of jobs in northern cities
59
Movement, suburbanisation, etc. (6)
2. Population Growth in the West and Southwest (4)
a. The West and the Southwest continued to grow after World War II (1)
b. Sun Belt cities expanded rapidly. (4)
c. Los Angeles, California, moved ahead of Philadelphia, Pennsylvania, as the third largest U.S. city
d. By 1963, California had more people than New York
60
Movement, suburbanisation, etc. (6)
2. Population Growth in the West and Southwest (4)
a. The West and the Southwest continued to grow after World War II (1)
i. This trend would continue through the end of the century.
61
Movement, suburbanisation, etc. (6)
2. Population Growth in the West and Southwest (4)
b. Sun Belt cities expanded rapidly. (4)
i. Houston, Texas
ii. Miami, Florida
iii. Albuquerque, New Mexico
iv. Tucson and Phoenix, Arizona
62
Movement, suburbanisation, etc. (6)
3. Suburbanization in Post-World War II America (4)
a. Movement led Americans out of inner cities into new suburbs.
b. Americans hoped to find affordable housing for larger families that happened because of the postwar baby boom.
c. Developers like William J. Levitt built new communities using the techniques of mass production. (2)
d. Levitt's methods cut costs and allowed new owners to possess at least a part of the American dream.
63
Movement, suburbanisation, etc. (6)
3. Suburbanization in Post-World War II America (4)
c. Developers like William J. Levitt built new communities using the techniques of mass production. (2)
i. Homes that all looked alike.
ii. Levitt's houses were prefabricated or partly assembled in a factory instead of on the final location.
64
Movement, suburbanisation, etc. (6)
4. Growth of Suburbs in Post-World War II America (2)
a. Businesses moved into new suburban areas.
b. Large shopping centres containing a great variety of stores changed consumer patterns. (4)
65
Movement, suburbanisation, etc. (6)
4. Growth of Suburbs in Post-World War II America (2)
b. Large shopping centres containing a great variety of stores changed consumer patterns. (4)
i. The number of centres rose from 8 at the end of World War II to 3,840 in 1960.
ii. Easy parking.
iii. Convenient evening hours.
iv. Allowed customers to avoid city shopping entirely.
66
Movement, suburbanisation, etc. (6)
5. New Highways in Post-World War II America (3)
a. New highways created better access to suburbs and its shops.
b. The Highway Act of 1956 (3)
c. Car Sales (3)
67
Movement, suburbanisation, etc. (6)
5. New Highways in Post-World War II America (3)
b. The Highway Act of 1956 (3)
i. Provided $26 thousand million.
ii. The largest public works expenditure in U.S. history.
iii. Purpose of funds: build more than 64,000 kilometres of federal roads to link together all parts of the country.
68
Movement, suburbanisation, etc. (6)
5. New Highways in Post-World War II America (3)
c. Car Sales (3)
i. Booming car sales enable workers to get to work and elsewhere
ii. Car sales rise from 2.1 million in 1946…
iii. To 7.9 million by 1955
69
Movement, suburbanisation, etc. (6)
6. Impact of Television on Social and Economic Patterns in Post-World War II America (5)
a. Developed in the 1930s but not widely marketed until after World War II.
b. Who use stats: (4)
c. Popular shows for children (2)
d. Popular shows for older viewers (2)
e. Impact of Advertising on Post-World War II American Society (2)
70
Movement, suburbanisation, etc. (6)
6. Impact of Television on Social and Economic Patterns in Post-World War II America (5)
b. Who use stats: (4)
i. In 1946, fewer than 17,000 television sets in the country.
ii. By 1949, consumers were buying 250,000 sets a month.
iii. By 1960, three-quarters of all families owned at least one set.
iv. In the middle of the 1960s, the average family watched television for four to five hours a day.
71
Movement, suburbanisation, etc. (6)
6. Impact of Television on Social and Economic Patterns in Post-World War II America (5)
c. Popular shows for children (2)
i. Howdy Doody Time
ii. The Mickey Mouse Club
72
Movement, suburbanisation, etc. (6)
6. Impact of Television on Social and Economic Patterns in Post-World War II America (5)
d. Popular shows for older viewers (2)
i. Situation comedies like I Love Lucy
ii. Father Knows Best
73
Movement, suburbanisation, etc. (6)
6. Impact of Television on Social and Economic Patterns in Post-World War II America (5)
e. Impact of Advertising on Post-World War II American Society (2)
i. Americans of all ages exposed to increasingly sophisticated advertisements.
ii. Advertisements promoted products said to be necessary for the "good life".
74
Movement, suburbanisation, etc. (6)
7. Music??? (2)
a. New genre of Rock and Roll increases in popularity.
b. Sexually charged songs popular. (1)
75
Movement, suburbanisation, etc. (6)
7. Music??? (2)
b. Sexually charged songs popular. (1)
i. Such as some by Elvis Presly.
76
Who developed the Polio vaccine?
Jonas Salk
77
When was the Polio vaccine developed?
1952
78
What does a transistor do?
It regulates current or voltage flow.
79
What encouraged companies to invest in research and development?
Government grants
80
Scientific progress (3)
a. Scientific Discoveries and Technological Developments (4)
b. Development of Commercial Airlines (2)
c. Improved Nutrition and Public Health (4)
81
Scientific progress (3)
a. Scientific Discoveries and Technological Developments (4)
i. Federal grants encourage companies to invest in Research and Development.
ii. Production becomes more efficient.
iii. Development of the Transistor (regulates current or voltage flow) transforms electronics industry.
iv. New technology corporations are formed.
82
Scientific progress (3)
b. Development of Commercial Airlines (2)
i. Government subsidies encourage development of Commercial Airlines
ii. Transportation of goods and people across the country within hours.
83
Scientific progress (3)
c. Improved Nutrition and Public Health (4)
i. Nutrition and public health also improved during these years eg:
ii. Jonas Salk develops Polio Vaccine in 1952.
iii. Polio effectively eliminated as a disease in the US.
iv. Disease had killed and crippled hundreds of thousands of Americans.
84
When was the Taft Hartley Act passed?
1947
85
What's an all union workplace?
An all-union workplace is a workplace in which all workers are required to be members of a specific union as a condition of employment.
86
What's the Montgomery GI bill also known as?
the Servicemen’s Readjustment Act
87
When was the Montgomery GI bill passed?
1944
88
How many veterans were re-entering the market after WW1?
12 million
89
The GI bill provides government help in getting what kind of mortgage?
90%
90
The GI bill provided how many weeks of unemployment benefit?
52 weeks/ a year
91
The GI Bill meant that how many dollars of federal grants were given towards various schools (educational opportunities)?
15 billion dollars
92
93
The GI Bill meant that how many dollars of federal grants were given to provide veterans with loans for new homes, farms, and businesses?
15 billion dollars
94
A cup’l’of acts? (2)
1. The Taft-Hartley Act (3)
2. The Montgomery G.I. Bill (4)
95
A cup’l’of acts? (2)
1. The Taft-Hartley Act (3)
a. Context (3)
b. The Passing (3)
c. How does act restrict the influence of unions. (3)
96
A cup’l’of acts? (2)
1. The Taft-Hartley Act (3)
a. Context (3)
i. During the recession, millions of industrial laborers went on strike to protest inadequate wages.
ii. Truman had continued to support them as he had in the war.
iii. Conservatives fear halting industrial production will cripple the economy.
97
A cup’l’of acts? (2)
1. The Taft-Hartley Act (3)
b. The Passing (3)
i. Gets passed in 1947.
ii. Passed by the Republicans.
iii. Truman tries and fails to veto it.
98
A cup’l’of acts? (2)
1. The Taft-Hartley Act (3)
c. How does act restrict the influence of unions. (3)
i. Outlaws all-union workplaces (An all-union workplace is a workplace in which all workers are required to be members of a specific union as a condition of employment)
ii. Makes unions liable for damages incurred during interunion disputes.
iii. Requires labour organizers to denounce Communism and take oaths of loyalty.
99
A cup’l’of acts? (2)
2. The Montgomery G.I. Bill (4)
a. Also known as the Servicemen’s Readjustment Act.
b. Gen. (2)
c. Does. (3)
d. Impact (5)
100
A cup’l’of acts? (2)
2. The Montgomery G.I. Bill (4)
b. Gen. (2)
i. Congress passes the Montgomery G.I. Bill in 1944.
ii. It was to help the 12 million returning veterans re-enter the job market.
101
A cup’l’of acts? (2)
2. The Montgomery G.I. Bill (4)
c. Does. (3)
i. The G.I. Bill gave government grants to any veteran who wished to return to school.
ii. GI Bill provides government help in getting a 90% mortgage.
iii. The bill guarantees 52 weeks of unemployment benefit.
102
A cup’l’of acts? (2)
2. The Montgomery G.I. Bill (4)
d. Impact (5)
i. $15 billion in federal grants provided for various kinds of schools.
ii. Another $15 billion to provide veterans with loans for new homes, farms, and businesses.
iii. It reduced fierce competition for jobs after the war.
iv. Boosted the economy by helping millions of workers acquire new skills.
v. The investment provides a golden age for social mobility.
103
What was the inflation rate between 1945 and 1946?
25%
104
Between which years was the inflation rate 25%?
1945-1946
105
When did Truman propose a price control bill?
1946
106
How many war bonds had been purchased by US citizens?
$185 billion
107
From 1939 to 1952 how much had total output increased?
90%
108
From 1939 to 1952 what had happened to industrial output?
It had doubled
109
From 1939 to 1952 what had happened to agricultural output?
Increased by a third
110
From 1939 to 1952 what happened to the average income of Americans?
It had risen about 40%
111
How many business investments were there in 1952?
$38 Billion
111
How many business investments were there in 1939?
$14 Billion
112
In which year were there $14 Billion of business investments made?
1939
113
In which year were there $38 Billion of business investments made?
1952
114
How many people were employed in 1939?
46 million
115
In which year were 46 million people employed?
1939
116
How many people were employed in 1952?
61 million
117
In which year were 61 million people employed?
1952
118
Economy (3)
1. Transition to Peacetime (2)
2. Truman proposes a Price Control Bill in 1946 (2)
3. Economic Progress after Truman's Re-Election in 1948 (2)
119
Economy (3)
1. Transition to Peacetime (2)
a. Businesses faced a transition from war production to peacetime production.
b. Victory and men returning home. (3)
120
Economy (3)
1. Transition to Peacetime (2)
b. Victory and men returning home. (3)
i. Led to a consumer boom.
ii. Consumer boom led to an inflation rate of 25% in 1945 to 1946.
iii. This added to the Democrats' defeat in the 1946 midterm congressional elections.
121
Economy (3)
2. Truman proposes a Price Control Bill in 1946 (2)
a. But it was watered down by Congress.
b. This was because they thought the president was too weak to push it through.
122
Economy (3)
3. Economic Progress after Truman's Re-Election in 1948 (2)
a. Gen (2)
b. Stats by 1952 based off of 1939 levels. (6)
123
Economy (3)
3. Economic Progress after Truman's Re-Election in 1948 (2)
a. Gen (2)
i. Economy improving and demand is growing.
ii. Maturing of the $185 billion of war bonds purchased by US citizens injected money into the economy which fuelled the consumer boom.
124
Economy (3)
3. Economic Progress after Truman's Re-Election in 1948 (2)
b. Stats by 1952 based off of 1939 levels. (6)
i. Total output had increased by almost 90 per cent.
ii. Industrial output had more or less doubled.
iii. Agricultural output had increased by a third.
iv. Business investment had risen from an annual rate of $14 billion to almost $38 billion.
v. Employment had also risen growing from 46 million to an average of about 61 million. (I know that the worst affected by unemployment were women and minority groups, more info in Political and Domestic problems for now but I imagine that this will be expanded upon)
vi. The average income of Americans had risen about 40 per cent.
