2 Jun 2018 Jahr - Significant Event #2

Beschreibung:

The second most significant event was post-WWII economics. The time period from just after the war in 1945 to the early 1960s was a very significant economic boom the United States. The automobile industry made a comeback and new industries such as aviation and electronics grew. More people were having children, leading to a baby "boom" which meant more consumers buying family-related items and also the creation of the baby boomer generation. The GDP went from 20 to 50M during this boom. Many people were buying houses to accommodate their new, middle class lives. Also during this time period, war-ravaged European countries were provided with economic aid under the Marshall Plan. The United States also recognized during the post-war period the need to restructure international monetary arrangements, spearheading the creation of the International Monetary Fund and the World Bank -- institutions designed to ensure an open, capitalist international economy. These creations were of most significance, and are still active in modern society.