An Entrepreneur Franchises the American Dream
Ray Kroc – ambitious salesmen that expanded McDonalds.
* Understood that restaurants should operate in a place with more traffic(highways) * Understood that the franchise notion provided the key to rapid economic growth * Sensed the importance of uniformity and standardization * Understood the mood of the time – the quiet conformity of people searching for the key to American dream of prosperity and stability Economic Boom – prosperity convinced the growing middle class that all is well in U.S.A. The Thriving Peacetime Economy
* While other nations struggled with the aftereffects of World War II, United States prospered. * The Gross national product and per capita personal income rose. Many poor families bumped up to middle class. * Personal resources fueled economic growth. American saved during the war, spending it after the war. * New consumer power spurred the economy.
* Automobiles played a key part to the economic boom. The development of highway system also stimulated auto production and so contributed to prosperity. * The Interstate Highway Act of 1956 – Eisenhower admin. Poured $26 billion, the largest public works expenditure in American history, into building more than 40,000 miles of federal highways, linking all parts of U.S. * Home-ownership rates rose.
* GI Bill of 1944 – Besides returning jobs and educational benefits to many servicemen, they also provided low mortgage housings. * Gov. increasingly active economic role both stimulated and sustained expansion. There were a lot of close business-gov. ties. SUPER HIGH BUDGET TO ARMED FORCES. * Most citizens agreed with such high spending because they knew it was to prevent the spread of communism and understood the economic impact of military spending. * Concentration income of U.S. remained the same-the bottom half of the population still earned less than the top tenth-the ranks of middle class grew. * American products go worldwide such as coke products!
* Affluent Society – The major transformation had occurred in the United States. This term is used to describe the United States as peaceful, productive, and prosperous. Postwar Growth Around the World
* Many countries besides the U.S. also started postwar construction, but they suffered more and it be slower. * Great Britain’s industries were inefficient and they lagged behind developing a modern superhighway system. * Britain elected the Labour party, seemed to stifled industrial progress. However, Britain had a system of medicine far in advance of anything in the United States. * France was struggling with the demands of its colonial empire to be free. France finally pulled out. * Germany revived with the “German miracle” with the help of United States, so they can act as a buffer zone for Soviet Union. * Japan was helped by U.S. for reconstruction.
* Reparations from West Germany and industrial extractions from Eastern Europe helped promote the reconstruction effort. The Corporate Impact on American Life
* Major corporations tightened their hold on the American economy and government had produced tremendous industrial concentration. * Oligopoly – domination of a given industry by a few firms * Became a feature of American Capitalism
* Conglomerates – firms with holdings in a variety of industries in order to protect themselves against instability in one particular area * Not only did big corporations grow, small corporations did also. * Large corporations also went abroad, and hired labor from foreign countries. CHEAP. Changing Work Patterns
* United States became more of a service provider than goods producer. * White collars sell time, energy, and personalities as well. * Assembly line workers enjoyed their lives more than ever before because union...