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The Space Race: Economy
Transcript of The Space Race: Economy
Huge amount of money spent
176 billion dollars
Constantly being spent
Energy crisis 1970
Benefits to Economy
Created jobs, boosting economy
Captivated by idea of space
Increased reliability of technology.
America most powerful country.
Huge boost in technology development and innovation
Disadvantages to economy
Taxes on the people
Add to worry of nuclear war
Money could have been spent on different areas
The economic impact of the Space Race
The Space Race
Contest for space travel and technology development
Soviet Union (USSR) vs the United States (US)
Occurred: 1955 and 1972
During Cold War
“This decision demands a major national commitment of scientific and technical manpower, material and facilities, and the possibility of their diversion from other important activities where they are already thinly spread.”
- John F Kennedy
Huge number of benefits
Very important era
Much of what we take for granted today, developed from it
Mandel, M 2009, The Economic Value of the Space Program, Bloomberg Buisness, accessed 18 June 2015, <http://www.businessweek.com/the_thread/economicsunbound/archives/2009/07/the_economic_fa.html>.
Skelly, D n.d., Economic impact, The Space Race, accessed 18 June 2015, <http://spacerace1957.weebly.com/economic-impact.html>.