MGMT 1030 Lecture Notes - Lecture 29: Sakoku, Meiji Restoration, Government Spending
9 May 2018
School
Department
Course
Professor
MGMT 1030
Lecture 29
5) The Second World War
➢ America served as the financier and supplier of much of the
Allied war effort
➢ Unemployment declined from 17.2% in 1939 to 1.2% in 1944
➢ GNP increased from 90 billion dollars in 1939 to 201 billion
dollars in 1944
➢ Many facets of industrial production controlled by the
government
The Third Industrial Revolution in America (1950s to present)
1) Long period of postwar economic prosperity
➢ Real GNP increased from 316 billion dollars in 1946 to 722 billion
dollars in 1970
➢ Unemployment remained low—3.9% in 1946; 4.9% in 1970
➢ Exports increased from 9.8 billion dollars in 1945 to 43 billion dollars
in 1970
2) Increase in government share of economy
➢ Government spending as a ratio of GNP increased from 17.4% in
1948 to 34.1% in 1985
➢ Government employment increased from 5.6 million in 1948 to 16.4
million in 1985
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Document Summary
America served as the financier and supplier of much of the. Unemployment declined from 17. 2% in 1939 to 1. 2% in 1944. Gnp increased from 90 billion dollars in 1939 to 201 billion dollars in 1944. Many facets of industrial production controlled by the government. The third industrial revolution in america (1950s to present: long period of postwar economic prosperity. Real gnp increased from 316 billion dollars in 1946 to 722 billion dollars in 1970. Unemployment remained low 3. 9% in 1946; 4. 9% in 1970. Exports increased from 9. 8 billion dollars in 1945 to 43 billion dollars in 1970: increase in government share of economy. Government spending as a ratio of gnp increased from 17. 4% in. Government employment increased from 5. 6 million in 1948 to 16. 4 million in 1985. Japan was not keen influence of european (religion, politics, etc) Policy of sakoku (closed country) in place from 1639.
