MGMT 1030 Lecture Notes - Lecture 5: Mania, Free Trade, Extraterritoriality
11 May 2016
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Document Summary
Led by the united states and japan. Marked by the rise of the service economy, international financial and trade transactions, and the introduction of the computer. Typical new products were consumer electronics and a wide array of pharmaceuticals. Postwar usa: 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 1948 to 34. 1% in 1985. Government employment increased from 5. 6 million in 1948 to 16. 4 million in 1985. Continued military spending with the cold war: dominance of major corporations like ibm and general motors. Electronic office, introduction of business computers accelerates in the period. American prosperity seen in expansion of suburbs, continued dominance of cars.
