HIST 20 Chapter Notes - Chapter 24: Long-Distance Calling, William Levitt
Document Summary
Golden age followed the end of world war ii. Period of economic expansion, stable prices, low unemployment, and raising standards of living that continued until 1973. Between the 1946 and the 1960, the american gross national product more than doubled and much of the benefit flowed to ordinary citizens in rising wages. By 1960 estimated 60 percent of americans enjoyed middle-class standard of living. Innovations came into use: television, air-conditioning, dishwashers, long distance telephone calls, and jet air travel. United states still remained the world"s predominant industrial power. Major industries like steel, automobiles, and aircraft dominated the domestic and world markets for their products. The cold war fueled industrial production and promoted a redistribution of the nation"s population and economic resources. The south became home of numerous military bases and government-funded shipyards. The american economy shifted rapidly toward services, education, information, finance, and entertainment. Trend of fewer and larger farms continued. Farm population fel, yet agricultural production rose.
