Postwar Confidence and Anxiety. Domestic Issues and Politics of the 1950s Chapter 17. An Economic Boom (17.1). “The American soldiers is…worried sick about post-war joblessness.” – Fortune Magazine 60% of Americans thoughts their earning would fall 12,000,000 WWII troops were returning
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Domestic Issues and Politics of the 1950s
US Economy After
SHIFTS IN POPULATION DISTRIBUTION, 1940-1970
1940195019601970 Cities 31.6% 32.3% 32.6% 32.0% Burbs 19.5% 23.8% 30.7% 41.6% Rural 48.9% 43.9% 36.7% 26.4%
U. S. Bureau of the Census.
Computers Mark I (1944). First IBM mainframe computer (1951)
Automation & Corporate Consolidation:
*1947-1957 factory workers decreased by 4.3%, lost 1.5 mil. blue-collar jobs.
*By 1956 more white-collar than blue-collar jobs in U.S.
*By 1960 600 corporations (1/2% of all U. S. companies) accounted for53% of total corporate income!!!
UPSET OF THE CENTURY!!!
“Brinksmanship”[John Foster Dulles]