The making of a Superpower USA - Economy (1945 - 1965)

Why was the 1948 Marshall Plan economically motivated?

It invested $12 billion into Western European countries to create markets for US expeorts

How did the post-war economy affect the housing market?

Home ownership rose from 55% in 1950 to 62% in 1960

Who did not benefit from the prosperous housing market?

33% of US homes did not have running water + 40% lacked flushing toilets

How was the car industry impacted by the post-war boom?

After WW2 car production restarted + sales rose from 69,500 in 1945 to 6.7 million in 1950 (mainly US made)

Which car companies benefitted the most from the post-war boom?

Ford, Chrysler + General Motors

How did the car industry encourage purchasing through credit?

A new Chrysler car cost 40% of the average family’s income + number of 2 car families doubled between 1951 - 1958

How did advertising benefit from the consumer boom?

Spending increased from $6 billion in 1950 to $13 billion by 1963

What % of the world’s goods did the US consume?

33%

What % of the world’s productive capacity did the US control?

66%

Who did not benefit from prosperity under Eisenhower?

25% - especially African American neighbourhoods

How was the TV market impacted by the consumer boom?

Americans spent $15.6 billion on buying + repairing them

How did teenagers benefit from the consumer boom?

Their spending power rose from $10 billion in 1959 to $25 billion in 1959

Who did not benefit from minimum wage increasing to $1.25?

The unemployed