Question

Explain the meaning of the American standard of living during the 1950

Answer 1

Explain the meaning of the American standard of living during the 1950

The American standard of living had been able to completely transform the society. This had occurred after the society had come out from the Second World War, where there was an increase in the economic expansion. There were more stable price costs, along with a decrease in the rates of unemployment. This time was also referred to as the golden age of capitalism where there was a drastic increase in the wages of an average citizen and an overall increase of the standard of living, there was a doubling of the gross domestic product leading to the new generation being better than their parents. There was some amount of money that the middle class could spare along with a decrease in poor health conditions. Also, there were better living standards such as air travel or technological advancements, that helped the Americans move toward a better life.