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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.

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Economic Growth of the 1950s

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  1. Economic Growth of the 1950s

  2. 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

  3. 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

  4. 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

  5. What was the baby boom? • A period from 1945 to 1964 where the U.S. population grew by 27 percentmore than 65 million children were born • Peaked in 1957 with 4.3 million babies • U.S. population1940 (132 million); 1950 (151 million); 1960 (179 million) • Population increase due to high birthrate and 2.5 million refugees from Europe

  6. Baby Boom It seems to me that every other young housewife I see is pregnant. -- British visitor to America, 1958 1957  1 baby born every 7 seconds

  7. 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

  8. Dr. Spock • Dr. Benjamin Spock wrote Common Sense Book of Baby and Childnurture children • Parents wanted expert advice on parenting • Parents spent more money on toys and goods for kids

  9. Levittown, L. I.: “The American Dream” Suburban Living 1949 William Levitt produced 150 houses per week. $7,990 or $60/month with no down payment.

  10. Suburban Living:The New “American Dream” • 1 story high • 12’x19’ living room • 2 bedrooms • tiled bathroom • garage • small backyard • front lawn By 1960  1/3 of the U. S. population in the suburbs.

  11. 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

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