HIST 225 Lecture Notes - Lecture 20: Market Power, Cuban Missile Crisis, Gaullism
20 Apr 2015
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Lecture #19: reconstruction, refrigerators and radicals, 1953-68 (chapters 22 [review]; Europe went through an economic miracle after wwii and reached levels of prosperity never seen before. As a result the availability of goods was much higher leading to a large demand in consumer increase (possible because of social welfare), people were now able to save money and borrow on credit. Created a safety net and boost in confidence which encouraged consumption and new household technologies were being mass produced. Furthermore there was generally more wealth, in the top (managers, entrepreneurs) more demand meant more money, while in the bottom part social welfare allowed for them to have money to spend. Middle class expanded, higher level education was available to more people and tourism/leisure became part of everyday life. Furthermore politics were now based on consensus rather than extremism which helped work towards continued prosperity.
