Economy
The economy is a really important part of any country, and this changes depending the time and the techonological advances that are made at that period in time. The 50's were a prosperous time of new inventions, new technologies and a greater population. This was a time in which the economy varied from good to bad, in the following page you will be able to see what happened with the 50's economy and what were some of the factors that were affected.
The Factors of the economy.
The economy of the 1950's it is known to be one of the greatest in time because of all that was invented at the time. It is said to be that it was a leading economy, and because of that they could easily prosper.
The Suburbs
New Ideas
Increas in technology
Eisenhower is a really important part of the econommy at this time, he gave the economy a really big growth. The economy grew by 37% during the 1950s. At the end of the decade, a normal Merican family now purchased more, it incremented by a 30%. Eisenhower always tried to maintain a balance in the federal budget. There was minimal inflation after WWII but after all they could balance it and therfore sustain a balnced economy. unemployment remained low this wasent really a problem in the 50's.
There were many factors that came to play in the rise of the 50s. One of them bing the G.I. Bill. What this Bill did was that it helped veterans be able to afford a home, education, which later on this helped the economy because they were well educated men that could do jobs that the country needed and if they could do the jobs the economy would grow and there wouldnt be that much unemployment. As well something that helped the economy were the technological advances that were happening at the time. Due to this advances there was a higher productivity and if a producer can produce much easier and faster that means that all the demand for the product would be able to be satisfied because in the long run there will be an equilibrium point between the two.
Another interesting aspect about the economy is that it was up and running after WWII. This is really shoking because many countries in Europe and in Asia were still recuperating themselfs from the terrible devastation, this proves that the economy at that time was actually pretty good, and there was a good control.
In general the economy of the 50's was a really prosperous economy, there were only a couple of things that coused a little of a disadvantage in but regarding all of that it was pretty good. It was good because there were many inventions. As well as consumerisim, consumerisim was really important because it was what made the industry grow.
The producers began to produce more and as a result the consumers could bennefit from that in the long run. One of the reasons is that there would be high employment rates, the government will have a steady economy because of all the intake of taxes on the products, and last but not least they will be bennefiting from the new technologies and produts.