1. Key Question 5: What were the major changes in the U.S. economy from 1941 to 2000?

2. New Section -Start of a new Section of Notes -Get a piece of paper out or type on technology device.

3. Bellwork List 3 examples of what might cause the economy to get better when the Great Depression ended in 1940. This list can range from anything from 1940 to 2000.

4. Review: Post WWII America GI Bill Baby Boom 1 baby born every 7 sec. 1 baby born every 7 sec. White Flight to the Suburbs Increased $- rebuilding Japan and Europe rebuilding Japan and Europe No competition No competition

5. Shopping Consumerism – the obsession of buying goods Planned Obsolescence – making products that will become outdated on purpose MallsCredit

6. (Non)Mobile Society Fast food Luxury moves to necessity Luxury moves to necessityCars No longer 1 per family No longer 1 per familyInterstatesTelevision 9% of homes in 1950 had TV’s, 90% by 1960

7. Inventions of the 1950s 1950: credit card 1951: Super glue, Power steering, videotape recorder 1952: Mr. Potato Head, diet soft drink, hydrogen bomb 1953: Radial tires, musical synthesizer 1954: nonstick pan, McDonald’s 1956: computer hard disk, hovercraft, “Liquid Paper” (white out) 1958: laser, Hula Hoop 1959: internal pacemaker, Barbie Doll, microchip

8. More Events of the 1950s! 1950: 1 st Organ Transplant, "Peanuts" Cartoon Strip 1951: Color TV Introduced 1952: Car Seat Belts Introduced, Polio Vaccine Created 1953: DNA Discovered 1954: Report Says Cigarettes Cause Cancer 1955: Disneyland Opens, McDonald's Corporation Founded 1956: T.V. Remote Control Invented, Velcro Introduced 1957: Dr. Seuss Publishes The Cat in the Hat, Soviet Satellite Sputnik Launches Space Age 1958: Lego Toy Bricks First Introduced, NASA Founded, Peace Symbol Created

9. Health & Lifestyle What changes did you notice about health care in America? What do the previous inventions tell us about the lifestyle of a typical American? Why?

10. James Conant’s attack on High School Curriculum Conant believed the students needed more English, Math, Foreign Language to compete in the Democratic Society (1959) Reaction to Sputnik Falling Behind the Soviets

11. 70s Malaise Economy struggles OPEC Oil embargo-1973 OPEC Oil embargo-1973 Response to US support of Israel in Yom Kippur War Import 50% more oil from 1972 to 1973 $3 per barrel to $12 per barrel almost overnight Gas rations Money feels worthless due to inflation Money feels worthless due to inflationEffects Smaller cars Smaller cars Japanese cars take over Japanese cars take over Search for alternative energy Search for alternative energy Speed limits of 55 mph Speed limits of 55 mph Dow Jones loses 45% of value Dow Jones loses 45% of value

13. Economic Insecurity Meat prices rose at 75 percent annual rate in 1973. From 1972 to 1973 the cost of a bushel of wheat rose 240 percent. Soybeans rose from $3.50 a bushel in 1972 to $12.00 in 1973.

14. 70s Malaise (con.) Vietnam No longer feel like #1 No longer feel like #1 North Vietnam takes over South when we leave North Vietnam takes over South when we leavePresidency Lose faith in president’s office because of Watergate Lose faith in president’s office because of Watergate Ford pardons Nixon Ford pardons Nixon Carter’s problems Carter’s problems Iranian Hostage Crisis in 1979 Further Economic woes Insult Congress Soviet Union invades Afghanistan in 1979 Nuclear power concerns (3 mile island)

16. A New Era Reagan wins election of 1980 Gov’t turns conservative Traditional American Values!!! Traditional American Values!!! Deregulation – reduced gov’t rules of businesses

18. Economy Reaganomics – cut taxes, cut gov’t spending Federal Debt – money owed by the US gov’t Recession, then recovery Voters respond

19. 1980s Econ History http://countrystudies.us/united- states/history-137.htm http://countrystudies.us/united- states/history-137.htm

20. 1990s Tech DVDsInternet Pagers become popular and then obsolete Cell phones take off by the end of the decade Email and buddy chats come around Windows Dot coms (new websites) make people overnight millionaires/billionaires

21. Economic Boom Major economic growth for 6 straight years Raising the Gross Domestic Product – value of all goods and services in a country Raising the Gross Domestic Product – value of all goods and services in a country Balanced the budget – 1 st time in 24 years no money added to debt

23. Computer Regulation Napster- MP3 music for free MP3 music for free 80 million users + high speed Internet = No royalties 80 million users + high speed Internet = No royalties Government decides it is copyright violation Government decides it is copyright violation Shutdown service in 2001 Shutdown service in 2001

25. Any idea what is our debt now? http://www.usdebtclock.org/