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The Impact of McDonald’s and Credit Cards on the 1950’s Economy and Society
Transcript of The Impact of McDonald’s and Credit Cards on the 1950’s Economy and Society
The Credit Card
Inventions of the 1950s
design by Dóri Sirály for Prezi
Growth rates improving by 5% yearly.
Ralph Snyder, Frank McNamara:
Consumption improved by 124%.
Dominated with new tactics.
Accessibility, speed, population .
How McDonalds and Credit Cards had an impact on each other
According to Cullather, Lewis, McGerr, and Oakes (2010), “...those in the 1950s lives in a time when consumer values dominated the American economy”.
People wanted to spend money on luxuries like fast food.
Access, rewards and security & (overspend).
McDonald's benefits and advertisement.
Accessibility, speed, population appeal continued 40's rise.
How did the creation of McDonald's and the credit card effect the economy and society of the 1950s?
Impacts on Society
People became accustomed to the cheap and readily available food.
Food was easily available through drive-thru.
Provided uniformity of food in restaurants.
Appealed to all people.
Minimum wage workers.
Impacts on Society
Appealed to people who traveled.
Accustomed to buy now, pay later.
Increased personal debt.
Caused society to become very materialistic.
Owned by Frank McNamara and Ralph Snyder, the Diners Club invented the concept of universal cards
Universal Cards are accepted at most, if not all, stores and shops
Convenient , (saving time increased desire to spend)
People began consuming more, increasing demand, then production which benefits the economy
13th largest retailer in America (1984).
Unique advertising (slogans, Ronald McDonald, arches).
Speedy service system .
Hamburgers accounted for $21 billion out of the $38 billion of fast food sales in 1998.
Served 1/4 breakfasts int the nation (1985).
Impacts on Economy
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