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Postwar Economy

Postwar Economy. Megan McIntyre Amy Busch. Consumer Goods . Scarce before and during WWII After becoming available, people flocked to stores They wanted goods, and they wanted them now. “Keeping up with the Joneses”.

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Postwar Economy

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  1. Postwar Economy Megan McIntyre Amy Busch

  2. Consumer Goods • Scarce before and during WWII • After becoming available, people flocked to stores • They wanted goods, and they wanted them now.

  3. “Keeping up with the Joneses” • Consumer spending was so dramatic that people wanted everything they could get their hands on • They would compete with their neighbors for the next bigger, better products

  4. Reconversion • Truman wanted a social and economic transition from wartime to peacetime • He needed to bring soldiers home • “No boats, no votes” • People threatened Truman and politicians with a severe loss of votes if they did not bring soldiers home

  5. Wages • Workers wanted a raise in wages that they hadn’t received during the war • They didn’t get them, so 4.6 million workers went on strike

  6. << Chrysler worker strike • Many strikes took place in the automobile, steel, electrical, coal, and railway industries

  7. Raise in Prices • Because of the huge demand for new products, businesses raised prices by 25 percent • The workers’ want of a raise was not just to make up for those they didn’t get before the war, but also to keep up with the rising prices

  8. Civil Rights • Truman openly supported the Civil Rights movement • He met with African American world leaders to discuss civil rights issues in America • They wanted an anti-lynching law • They wanted to prevent whites from getting priority when it came to jobs.

  9. Truman “I am not asking for social equality, because no such things exist, but I am asking for equality of opportunity for all human beings, and, as long as I stay here, I am going to continue that fight.”

  10. Baby Boom • War veterans came back and wanted to start families • In 1954, annual births exceeded 4 million and that rate did not decrease for over 10 years • Because most people had more babies because they could now support them, they needed more products. This helped the economy.

  11. Technology • The boost in the economy also boosted the field of technology. • New technologies developed such as: • Creation of National Aeronautics and Space Administration (NASA)

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