1 / 6

Ch. 16 Postwar America 1945-1960

Ch. 16 Postwar America 1945-1960. 16.1 Truman’s Economy. I. Return to a Peacetime Economy. The GI Bill of Rights boosted the economy after WWII 1. Gave veterans financial aid for higher education 2. Gave them low interest loans to buy homes & start businesses

vevay
Télécharger la présentation

Ch. 16 Postwar America 1945-1960

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Ch. 16 Postwar America 1945-1960

  2. 16.1 Truman’s Economy

  3. I. Return to a Peacetime Economy • The GI Bill of Rights boosted the economy after WWII 1. Gave veterans financial aid for higher education 2. Gave them low interest loans to buy homes & start businesses 3. Led to a construction boom in houses & colleges; start of new businesses meant more jobs •In the peak year of 1947, veterans accounted for 49 percent of college admissions. •By the time the original GI Bill ended on July 25, 1956, 7.8 million of 16 million World War II veterans had participated in an education or training program. •From 1944 to 1952, VA backed nearly 2.4 million home loans for World War II veterans.

  4. I. Return to a Peacetime Economy… • Great demand for goods led to high prices 1. Inflation led to labor unrest 2. Workers went on strike for better pay In the 1940s and 1950s, workers in GE's Erie plant represented by Local 506 of the Electrical Workers union staged a series of strikes and engaged in a bitter turf war with the International Union of Electrical Workers (IUE), a more conservative, rival union formed by the CIO.

  5. I. Return to a Peacetime Economy… • In order to curb the power of labor unions, Congress proposed the Taft-Hartley Act (1947) 1. Outlawed the closed shop – the practice of forcing business owners to hire only union members 2. Law would allow states to pass right-to-work laws, which outlawed union shops – shops in which new workers were required to join the union 3. Prohibited “featherbedding” – the practice of limiting work output in order to create more jobs

  6. I. Return to a Peacetime Economy… 4. Truman vetoed it, but Congress passed it anyways

More Related