Postwar Economy
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Postwar Economy
- Many people got married and wanted homes, furniture, and goods for their new families
- Per capita income and purchasing power increased
- The US became the richest nation in the world
Corporations Create New Jobs
- A few companies dominated each industry
- Became diversified conglomerates to avoid failure and invested in other industries
- Food became mass produced with the advent of fast food
- Franchises spread because an individual could start a business easily with a lot of corporate support
Technology Transforms Life
- Use of atomic power for electricity spread
- The computer industry grew and produced more powerful computers
- Vaccum tubes were replaced by transistors, which were faster and smaller
- Television grew in popularity and was in 2/3 percent of homes
- Ads on television convinced many more people to buy products
Changes in the Workforce
- White collar service jobs became a majority over blue collar productions jobs
- Office jobs had no individuality however, and made people follow the crowd
- Working conditions and wages improved in both sectors
- Unions had an all time high and were very powerful
Changes in Farms
- Fertilizers, fungicides, and pesticides promoted plant growth at the end of WW2
- Farms were consolidated, and owned by businesses nicknamed "agribusiness"
Americans Move to the Suburbs
- The baby boom began, with a lot more marriages and babies born
- Large families with a lot of kids moved to the suburbs for cheap homes
- GI Bill helped veterans buy homes with mortgages with low interest
- Lewitt started mass producing homes, with precut materials, and lowered the price of homes for new families
- There was an increase in car usage and production because the suburbs were spread out
- Highways were built to connect the country by road
Consumer Credit Financed Growth
- People went in debt on purpose to buy more goods and services and stimulate the economy
- Credit cards were invented to help people loan money more easily at will
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