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In addition, by the early-1970s, post-World War II American consumers enjoyed higher levels of disposable income than those in any other country. [ 39 ] The great majority of American workers who had stable jobs were well-off financially, while even non-union jobs were associated with rising paychecks, benefits, and obtained many of the ...
The aftermath of World War II saw the rise of two superpowers, the Soviet Union (USSR) and the United States (US). The aftermath of World War II was also defined by the rising threat of nuclear warfare, the creation and implementation of the United Nations as an intergovernmental organization, and the decolonization of Asia, Oceania, South America and Africa by European and East Asian powers ...
The United States had more than 12 million men and women in the armed forces at the end of World War II, of whom 7.6 million were stationed abroad. [1] The American public demanded a rapid demobilization and soldiers protested the slowness of the process. Military personnel were returned to the United States in Operation Magic Carpet. By June ...
Pax Americana [1] [2] [3] (Latin for "American Peace", modeled after Pax Romana and Pax Britannica; also called the Long Peace) is a term applied to the concept of relative peace in the Western Hemisphere and later in the world after the end of World War II in 1945, when the United States [4] became the world's dominant economic, cultural, and military power.
The post–World War II economic expansion, also known as the postwar economic boom or the Golden Age of Capitalism, [1] [2] was a broad period of worldwide economic expansion beginning with the aftermath of World War II and ending with the 1973–1975 recession. [1]
Until the start of the COVID-19 recession in 2020, no post-World War II era came anywhere near the depth of the Great Depression. In the Great Depression, GDP fell by 27% (the deepest after demobilization is the recession beginning in December 2007, during which GDP had fallen 5.1% by the second quarter of 2009) and the unemployment rate ...
A post-war or postwar period is the interval immediately following the end of a war. The term usually refers to a varying period of time after World War II , which ended in 1945. A post-war period can become an interwar period or interbellum, when a war between the same parties resumes at a later date (such as the period between World War I and ...
The bill also increased access to low-interest home loans contributing to a large increase in home ownership: from 1944–1952, the Veterans Administration “supported nearly 2.4 million home loans for World War II veterans.” [1] However, closer examination shows that many people were left out of this new economic prosperity.