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1950s Economy
Economy
-Earlier during the 1950s, the economy was negatively affected by inflation, prices were rising, currency was losing its value, and a recession was at hand. This recession was luckily short-lived and by the mid-1950s, the nation was able to enjoy an economic boom.
New companies were being put into place and growing speedily, this caused a need for workers giving many people jobs. All of the new workers enforced a labor union and protested for better pay, new safety laws, and retirement benefits.
People were traveling more and more making a need for improving the highways. People had enough money to become consumers and if they didn't they just used credit which caused insurance, trust, and holding companies to rise.
People
People
The 1950's were full of change in people's way of life. Some improved, while others worsened. Women had to return to the home when veterans returned from the war. Wages changed based on who you were and what you looked like.
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Who was benefiting?
During the 1950's, there was economic expansion, new technologies, and a growing middle class. Certain people recieved the better part of the growth, specifically white males. After the war, personal income increased by nearly 1,000 dollars, by the end of the 1950's Americans had the highest standard of living in the world.
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Who was getting the worst of it?
Although the country countinued to expand economically,the worldly views were still not perfect. For example, black Americans struggled with segregation in housing and education and didn't recieve the same raise as white men.
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What was it like for women?
Women also faced a big switch in the 1950's, but it wasn't positive. During the war, women were allowed to work because most men were away at war. Once the war had ended, they had to return to being housewives with little freedom.
Government
Government
Truman's Presidency
(1945-1953)
Truman's Presidency
- The Fair Deal - a series of proposals that expanded on the New Deal
- The Fair Deal included more civil rights, a national healthcare insurance program, an expansion of Social Security, more rights for workers, an increased minimum wage, more funding for the education system, and more progressive policies meant to reduce poverty
- Few of these proposals were passed
- Truman Doctrine - Trumans foreign policy; promised aid to countries to prevent spread of Communism
- Greece and Turkey received military and financial aid from U.S.
Eisenhower's Presidency
(1953-1961)
Eisenhower's Presidency
- Eisenhower prioritized balancing budget over lowering high taxes
- Low debt and little inflation
- Interstate Highway System was authorized and built
- Interstate Highway System connected the country and reduced transport costs for goods, boosting the economy
Consumerism
Consumerism
- Wages rose after WWII
- Americans spent more money on goods and services
- Refrigerators, vacuum cleaners, and washing machines made life easier
- Color televisions became popular
- Advertisement helped sell products
- Cars became popular as suburban populations grew
1940s vs 1950s
1940s
vs
1950s
The mid-1940s was the official start of the baby boom, making the late 1950s the ideal start of a nuclear family when gender roles took their place.
The 1940s were booming with economic success. Due to the war, people had jobs including women and most Americans were saving their money. Once the war was over people spent their money, but eventually ran out causing a recession during the early 1950s.
The 1940s main president was Roosevelt who ran a progressive democratic party while the main president for the 1950s was Eisenhower who ran a republican party. Truman ran in the middle of the decades with a democratic party aswell.
Conclusion
Conclusion
In summary, the 1950's was a time for economic growth, new inventions like the colorized television, and unfortunately discrimination. Women struggled to get recognized as something other than a housewive, while African Americans were not getting the raises they deserved.
Positively, many new job opportunites opened up during the boom. Truman passed the Fair Deal, a group of programs that provided finicial support among other Progressive ideas. These ten years were difficult, but the country perserveved .