-
GNP doubles
The GNP of 1945 was 212 billion dollars. By 1960 it more than doubled to 504 billion dollars. -
Period: to
Business After The War
This is the time period after the war when the economy was thriving. -
Diner's Club Credit Card
The first credit card to be used was the diners club card. It wasnt a physical card but it was more of a tab that people could pay back later. With the invention of the credit card, consumer debt raised to more than $56 billion by the end of the 50's -
First Live Television Show
Due to the progressing technology, live television became popular. The average cost of an hour of live television was 300 dollars. Now that live tv was available new businesses were becoming available. -
First Nuclear Power Plant
The first nuclear power plant began construction in 1954 under eisenhower. It opened in Shippingport PA. This created a whole new industry and business for americans and others worldwide. -
Polio Vaccine
In 1955 doctors found a cure for polio. By doing this they saved multiple lives. Other advances in medicine helped to increase lifespan. By increasing lifespan more people could continue working and making money. -
McDonald's Founded
The opening of mcdonalds dominated the franchise system during this time period. Due to the growing franchise system independent businesses declined because they could not keep up. -
American Work force
Before the war most people worked as blue collars or manual labor workers. By 1956 the majority of workers were white collars or people who work in businesses. -
Interstate Highway Act
With the growth of cars, highways were starting to come around. The government provided $25 billion to build a more than 40,000 mile long highway across the country. This opened up new business across the country and made new citys possible. -
The New Baby Boom
Peak year of the baby boom. October had the highest birthrate of 339,499 in the year of 1957. The year ended with a total of 4,308,000 births. -
Income doubled
The annual income almost doubles from 1945. The income during 1960 was $2219 compared to that in 1945 which was $1223.
