Economic Growth of the 1950s
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Economic Growth of the 1950s
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Economic Growth of the 1950s. What is the gross national product (GNP)?. The total output of all goods and services produced in a year Between 1945 and 1960 rose 250% in the U.S. from $200 billion to over $500 billion. Government Spending. - PowerPoint PPT Presentation
Transcript of Economic Growth of the 1950s
Economic Growth of the 1950s
What is the gross national product (GNP)?
• The total output of all goods and services produced in a year
• Between 1945 and 1960 rose 250% in the U.S. from $200 billion to over $500 billion
Government Spending
• To prevent a postwar recession, gov’t funded schools, housing, veterans’ benefits, welfare, interstate highways, and military spending
• Economic growth peaked during the Korean War due to military production
• Unemployment was 5% or less• Inflation was 3% or less
The Rise of Suburbia
As you watch the first video, write down anything you think helps describe the post-war U.S.
This is video 1 of 2 on this topic
What was the baby boom?
• A period from 1945 to 1964 where the U.S. population grew by 27 percentmore than 65 million children were born– Peaked in 1957 with 4.3 million babies
• U.S. population1940 (132 million); 1950 (151 million); 1960 (179 million)– Population increase due to high birthrate and 2.5
million refugees from Europe
Baby Boom Baby BoomIt seems to me that every other young housewife I see is pregnant. -- British visitor to America, 1958
1957 1 baby born every 7 seconds
Why did the baby boom occur after WWII?
• Couples who waited to marry until after WWII and Korean War now started families
• Gov’t encouraged having children through the GI Bill loans for homes
• Advertising sang the praises of pregnancy and family
• Baby boom ended in 1972 with 203 million Americans
Dr. SpockDr. Spock• Dr. Benjamin Spock wrote
Common Sense Book of Baby and Childnurture children
• Parents wanted expert advice on parenting
• Parents spent more money on toys and goods for kids
Suburban LivingSuburban Living
$7,990 or $60/month with no down payment.
Levittown, L. I.: “The American Dream”
1949 William Levitt produced 150 houses per week.
Suburban Living:The New “American Dream”Suburban Living:The New “American Dream”
k 1 story high
k 12’x19’ living room
k 2 bedrooms
k tiled bathroom
k garage
k small backyard
k front lawn
By 1960 1/3 of the U. S. population in the suburbs.
Effects of the Baby Boom
• Examine the effect of the baby boom on the four following areas:– Family life– The economy– Education system– Popular culture of the U.S.
• Predict the impact of each in your notebook
