SUMMARY OF POST WW2 ECONOMIC BOOM
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After the war, Americans were able to keep a job, spend their money on non war products, move to the suburbs, and even start a family.
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World War II caused economic growth for America. Since a majority of American men were overseas, war production became a necessity. Wartime production was a major factor to the country’s prosperity. Unemployment lowered, wages rose, and after the war Americans were eager to spend on non war related products. As well as putting their money back into the economy, people were also having children at revolutionary rates. Confident in their growing economy, couples reasoned that this would be a promising time to start a family without fear of another depression. While trying to stimulate the economy, the government started federal programs to help the people. A program called the G.I Bill of Rights granted soldiers low mortgages, which was a factor to the expansion of the suburbs. This made it more economic for returning soldiers to get a suburban home rather than rent an apartment.
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Unemployment rates decreased drastically during the 1940's and 50's.
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(Watch video until 6:30min) This video touches on the change of the economy after the war. The involvement of the government helped the economy and wartime production decreased unemployment.