The 1950s: From growth to Affluence. Gross National Product (1945-1960)

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Presentation transcript:

The 1950s: From growth to Affluence

Gross National Product ( )

What could have caused this?

During WWII:  Americans saved billions due to rationing, shortages, etc.  Factories that once produced consumer goods like lipsticks had turned to producing war goods  Factories returned to producing consumer goods  Americans had money to spend  Americans wanted to shop  In return, businesses began producing more After WWII:

Real Income  The amount of goods and services your income or salary will buy, regardless of inflation.  By the 1950s, the average American made double what they did in the 1920s.

Malls!  Before the 1950s, most American shopped in the main street or downtown shopping area.  In the 1950s, suburban shopping centers (malls) began springing up.

Why do you think they grew in number at this point in time?

Likes:  Easy parking  Wide variety of shops  Air-conditioned

Consumer Spending  In the 1920s, we had installment buying.  The 1950s, brought two new changed to credit:  First, the Charge Card  Buy now, pay later  Works at only the store that gave it to you  Second, the Credit Card  buy now, pay later  You can shop in a variety of locations

Planned Obsolescence  The desire to own something a little newer, a little better, a little sooner than necessary.  Aim: to make items that are still usable look obsolete or out of date

From goods to services  Before the war:  Businesses were usually manufacturing industries  They built goods such as appliances and cars  After the war:  Businesses turned their focus to providing services  They provided people with a services such as quick, cheap, and tasty food (think fast food restaurants)

Franchise  An agreement to operate a business that carries a company’s name and sells its products.

From blue collar to white collar  At the beginning of the 1950s, most jobs were blue collar or jobs such as working in factories or skilled trades such as plumbing or auto repair.  Hourly pay  By the end of the 1950s, most jobs were white collar or professional jobs such as doctors, lawyers, engineers, salespeople, managers, office staff  Weekly, yearly pay