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The Baby Boom (1945-1960)
This term is used to describe the increased population expansion of the fifties.
Cause: after the celebration of the end of WWII, soldiers would return home from war and get it on with their lovers. -
International Monetary Fund
Consists of 185 member countries.
Established "to promote international monetary cooperation, exchange stability, and orderly exchange arrangements; to foster economic growth and high levels of employment, and to provide temporary financial assistance to countries to help ease balance of payments adjustment. -
Marshall Plan
The US gave over $13 billion dollars in economic aid in order to help rebuild the Western European economies following the end of WWII. -
Truman's Fair Deal
- This proposed that health insurance should be provided for all Americans + that the minimum wage should be increased.
- When Truman finally left office in 1953, his Fair Deal was but a mixed success. In July 1948 he banned racial discrimination in federal government hiring practices and ordered an end to segregation in the military. The minimum wage had risen, and social security programs had expanded.
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Interstate Highway Act
Ike Eisenhower backed a $27 billion plan to build forty-two thousand miles of new highways for vehicles. This created more construction jobs and sped up the sub urbanization of America. -
Eisenhower Doctrine
Provided economic aid to the Middle Eastern who were effected by the communist aggression. -
The Affluent Society by John Kenneth
Argued that as society becomes relatively more affluent (wealth), private businesses must "create" consumer desire through advertising, and while it generates artificial affluence through the production of commercial goods and service, the "public sector" becomes neglected as a result. -
The Organization of Petroleum Exporting Countries
The Organization of Petroleum Exporting Countries (OPEC) is a group consisting of 12 of the world's major oil-exporting nations. OPEC was founded in 1960 to coordinate the petroleum policies of its members, and to provide member states with technical and economic aid.
