Module 6 - Growth of U.S. Economy

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  • Dan Weiner
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  • Module 6 - Growth of U.S. Economy

    1. 1. Module 6 “In the meantime back home…..”
    2. 2. With rationing of consumer goods over, business converted from production of war materials to consumer goods
    3. 3. Americans purchased goods on credit
    4. 4. During the 1950s "buying on time“ (Using Credit) —paying for a large purchase in monthly payments—became acceptable as a regular practice, not just in time of need. Americans used credit to purchase new cars, electronic equipment, household goods, and appliances at a record pace. It was 1950 the original Diners Club card (Very 1st Credit Card) was pasteboard with the customer's name on one side and a list of the twenty seven restaurants that accepted it on the other. The first plastic cards came out in 1955 creating a whole new way of monetary exchange. American Express began issuing cards in 1958 followed by The Bank of America and their BankAmericard. Other smaller banks joined the BankAmericard system and the system continued to grow. In 1977 the card underwent a name change and became Visa. By the 1990's Visa was the largest credit card in use with nearly 400 million cards in circulation and more than 12 million businesses that accepted it.
    5. 5. The workforce shifted back to men, and most women returned to family responsibilities
    6. 6. TheThe workforceworkforce shiftedshifted back toback to men…men…
    7. 7. Labor unions merged and became more powerful; workers gained new benefits and higher salaries
    8. 8. …… and workers gained new benefits andand workers gained new benefits and higher salaries.higher salaries.
    9. 9. As economic prosperity continued and technology boomed, the next generation of women re-entered the labor force in large numbers

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