Post–World War II Economic Expansion

• American’s Golden Age
  • Income shot up
  • 6% of world’s population and 40% of the world’s wealth
  • 40 million new jobs in the 1950s
    • Shift from blue collar to white collar jobs
    • Middle class expanded
  • Women entered the workforce
    • Service industry
  • Cheap oil fed the boom
    • Europeans controlled the oil of the Middle East
  • 90% of American children are in school
  • Farm productivity skyrockets
    • Only 2% of the nations are farmers
  • Permanent War Economy
    • Aerospace, plastics, and electronics
    • High tech innovation result from military spending