HIST 289R Lecture Notes - Lecture 12: Federal Housing Administration, Diners Club International, Pink-Collar Worker
5 Mar 2018
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Diners club card - charge card that would pay restaurants but different from credit cards because they had to pay it off at the end of the month so you still had to have the money on hand. Lead to american express issuing the 1st credit card in 1959. Mcdonalds - applied mass production to food and started out with 9 menu items. In the 15 years after the end of wwii americans achieved a remarkable degree of affluence. The average american made 15 times as much as the average european. With 6% of the worlds population the us was producing 50% of the worlds goods, 57% of steel, and 62% of oil. Many americans were worried that the prices of goods would be incredibly inflationary if the opa lifted price controls. Between 1945 and 1960 the gdp doubled. During the 50s the economy grew at an average 4% per year. Median family income rose from to .
