Title: Why Did the Us Experience an Economic Boom in the 1950s and 60s - Term Paper
Headings: Why Did the Us Experience an Economic Boom in the 1950s and 60s
Why Did the Us Experience an Economic Boom in the 1950s and 60s
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Content: Much of the money they earned was saved as there was little to spend it on during the war period. By 1945 $140 billion was held in private savings. These savings were used after the war to boost consumer spending. After the war the US economy grew as there was little damage to mainland USA and thus no money was spent on reconstructing factories, houses and public infrastructure as had to be done across the UK and mainland Europe. Due to the damage caused to Europe there was a large increase in US exports to Europe as European countries were unable to manufacture goods whilst they rebuilt their factories and infrastructure. The Marshall Plan was a programme for European recovery which gave European countries money to their economies. It is widely thought that the US did this partly for their own benefit. They knew that with this money European countries would buy goods from US factories as they needed to rebuild their factories, this would mean that jobs would be created as there was higher demand for goods. Investment in advancing technology would occur and more tax could be collected from those employed. This all contributed to the increase in the economy.