The Postwar Economy of the 1950 s By Angela

The Postwar Economy of the 1950’s By Angela Brown 1

Bellringer: Think and Write • Brainstorm a list of the inventions that would be completely new to a person from the 1950 s if he or she were suddenly transported to the present. • What modern invention do you think is the most important today? 2

Business Reorganization • U. S. embarked on one of its greatest periods of economic expansion • GNP: 212 billion in 1945 to $504 billion in 1960 • Per Capita income – average income person, increased from $1526 to $2788 3

http: //www. allposters. com/gallery. asp? aid=423764051&c=c&search=13722 • GM’s Ford, Chrysler controlled automobile industry • General Electric and Westinghouse controlled electrical business 4

Is the second largest media conglomerate after AOL Time Warner. Giant corporations feared investing resources in a single business due to great Depression became Conglomerates – large corporation that owns many smaller companies that produce entirely different goods and services 5

http: //www. roadsideamerica. com/attract/ILDESmcd. html • 1954 Ray Kroc purchased Mac Donald’s and built a nationwide chain • Others quickly saw benefits in selling franchises – the right to open a restaurant using a parent company’s brand name and system 6

http: //www. mousestars. com/steve/annette/afmouse 1. htm Television • By 1953 2/3 of all families owned a TV • By 1955 watched 4 to 5 hours a day on average • Howdy Doody, The Mickey Mouse Club, American Bandstand, I Love Lucy, and Father knows best • Howdy Doody and Buffalo Bob Smith http: //images. google. com/imgres? imgurl=http: //www. fiftiesweb. com/tv/howdy-doody-c. jpg&imgrefurl= http: //www. fiftiesweb. com/tv/howdy-doody. htm&h=219&w=191&sz=11&tbnid=z. LGe. ABKmhms. J: &tbnh= 100&tbnw=88&prev=/images%3 Fq%3 Dhowdy%2 Bdoody%26 hl%3 Den%26 lr%3 D&oi=imagesr&start=2 7

http: //www. the-forum. com/advert/nesbitt. htm Three networks controlled TV programming. They raised money through advertising The companies got their monies worth – America bought http: //atlantaantiquegallery. com/gallery/i-4920_ice_cream_sign_1950 s. html 8

The Computer Industry • Grace Hopper, researcher at Harvard University computation lab created software that runs a computer. • Hopper coined the phrase “debugging” • She removed a moth • 1948 Bell telephone lab invented transistor – tiny circuit device that amplifies, controls, and generates signals http: //www. jamesshuggins. com/h/tek 1/grace_hopper_portraits. htm 9

• Giant machines that filled room could now fit on a desk due to transistor • The Census Bureau purchased one of first computer systems for 1950 census http: //www. snopes. com/inboxer/hoaxes/computer. asp 10

Nuclear Power • Generation of electrical power through the use of atomic energy resulted from research on atomic bomb • 1957 first commercial nuclear power plant in Shippingport, Pennsylvania • From 1940 s to early 1970 s – fed government exposed as many at 1800 people to radiation in experiments that provided little to no medical benefit • American citizens were used as nuclear calibration instruments 11

Advances in Medicine • 1954 Dr. Jonas Salk and Dr. Thomas Francis conducted successful test of Polio vaccine (killed or disabled 20, 000 U. S. children every year) • 1944 advances in production of antibiotics – penicillin saved countless lives – 1950 s discovered other antibiotics • Lessons learned in war allowed doctors to operate to correct heart defects http: //info. detnews. com/history/index. cfm? id=179&category=events 12

Changes in the Work Force • By 1956 a majority of all American workers held whitecollar jobs – no longer produced goods but performed services at counters or in offices • Workers were encouraged by working conditions but large corporations were impersonal • Employers pressured employees to dress, think and act alike • Blue Collar conditions also improved – guaranteed costof-living increases • 1955 – 33% of total labor forces – AFL and CIO merged (American Federation of Labor – Congress of Industrial Organizations) 13

Baby Boom of WWII continued 25 births per 1000 in peak year 1957 http: //kclibrary. nhmccd. edu/decade 50. html 14

Moving to the Suburbs • WWII veterans enjoyed the Servicemen's Readjustment Act of 1944 = GI Bill- gave low-interest mortgages to purchase new homes Average Americans could afford to buy homes http: //www. historyplace. com/unitedstates/pacificwar/2146. jpg 15

Levitt Town’s • Developers pioneered mass-production in home building • Precut and preassembled materials built homes in weeks (William J. Levitt – Levitttown’s Some complained developments all looked alike “Little Boxes” – through usually welldesigned and well built http: //tigger. uic. edu/~pbhales/Levittown/ 16

http: //tigger. uic. edu/~pbhales/Levittown. html 17

Cars and Highways • Stores moved from cities to shopping centers in suburbs • Americans more dependent on automobile than public transportation = new car designs every year http: //www. webshots. com/g/d 2000/4 -nw/9612. html 18

• 1956 Interstate Highway Act provided $26 billion to build an interstate highway system more than 40, 000 miles long – allowed for evacuation of major cities in event of emergency • Drive-in movies inspired by car culture 19 http: //www. wtv-zone. com/moesboomerabilia/

The Growth of Consumer Credit • Gasoline companies offered credit cards to loyal customers • Americans willingly went into debt to purchase products they wanted http: //history 1900 s. about. com/od/1950 s/a/firstcreditcard. htm 20

http: //www. dinersclubnewsroom. com/anniversary. cfm 21

• Diner’s club card 1950 – 1959 • American Express Card = Bank Americard (VISA) • U. S. had become “the affluent society” Frank X. Mc. Namara. Courtesy of Diners Club. http: //history 1900 s. about. com/od/1950 s/a/firstcreditcard_2. htm 22