After WW2 how long did the US experience remarkable prosperity
2 decades
What was the US already rich in before the war?
Natural resources
eg. coal, iron ore, oil, timber, and minerals
What industries were stimulated by the war?
Aircraft, electronic, chemical, tobacco, food processing, and pharmaceutical
What was suddenly available after the war?
Consumer demand
What did consumer demand allow
flourishing manufacturing jobs
What was the us per capita income compared to other prosperous nations (eg. Canada) by 1949
twice as much
what percentage did unemployment remain the decade
4%
how many veterans gained improved employment opportunities from the GI bill of rights
8 million
What did the GI bill of rights do
offered free vocational training and higher education
What else were veterans offered
lower interest loans for housing and establishment of businesses
What did these benefits do
Encouraged the post war construction boom by increasing the number of homeowners
