Transcript Chapter 13
Chapter 13
An Economic Boom
Section 1
Many feared another recession after
WWII, but prosperity ensued.
The nation needed to convert from
making war materials back to making
consumer goods.
Government stated to demobilize- bring
the troops home
GI Bill of Rights
Provided free tuition
Provided unemployment insurance
Provided preference for federal jobs
Provided loans for construction of new
homes
Suburbs became very popular
8 million veterans went to college
Baby Boom
After the war, a baby was born every 7
seconds
4.3 million babies were born a year
Between 1940 and 1955, the US grew
by 27% (the greatest increase in history)
Problems After the War
Inflation—Prices were very high
Demand for Products was high
Goods were too scarce
US Dominates World Economy
Huge demand for products caused a
high employment rate
Nation enjoyed a higher standard of
living than other countries
Technology Boots Productivity
Atomic Energy
Computers
Worker productivity—the rate at which
workers produced goods increased
because of technology
Government Spending
Supports Growth
Due to the Korean War, the US spent a
lot of money on defense spending
Marshall Plan initiated a foreign demand
for goods
Truman Overcomes Huge
Obstacles
FDR died only 4 months after Truman
was a VP
Beginning of the Cold War
Communist Takeovers
Grappling with Congress and
Labor
Unions demanded more pay
Strikes increased
Taft-Hartley Act
Outlawed the closed shop—only union
members can be hired
Truman vetoed the Act
Congress overrode it.
Angering Segregationists
Started Civil Rights Movement
Desegregated the military
Truman Upsets Dewey
Truman’s standing was so low that no
one thought he could win.
Ran against Strom Thurmond
(Dixicrats)—against integration
Henry Wallace Ran for the Progressive
party
Tom Dewey ran for the Republicans
Truman still wins
Truman Proposes a Fair Deal
Fair Deal—Neal Deal but also included
national health insurance and civil rights.
Truman failed to win most of his reforms.
Eisenhower Charts a New
Path
Eisenhower (Republican)—nickname Ike
Great personality
War hero
Went against Stevenson as the Democratic
candidate
Conservative and liberal
Did not cut down on New Deal
programs, but cut back on taxes and
military spending.