Categories
Tags
- 1906
- 1929
- 1960s
- 1963
- 1964
- African-Americans
- African American
- Arizona
- Bill Clinton
- Child Labor
- civil rights
- Civil Rights Movement
- Cold War
- communism
- crisis
- Discrimination
- economics
- finance
- flappers
- Freedom
- Great depression
- human rights
- Immigration
- impeachment
- Martin Luther King
- Martin Luther King Jr.
- McCarthyism
- music
- New York
- police brutality
- President
- prohibition
- protest
- racial discrimination
- Richard Nixon
- rights
- riot
- segregation
- stock market
- students
- Wall Street
- War
- Woodrow Wilson
- World War I
- WWI
Tag Archives: economic freedom
President Ronald Reagan
Ronald Wilson Reagan was the 40th President of the United States. In his early carrier, he was an actor. He started his political carrier with the Democratic Party; but he switched to the Republican Party in 1962, got the nomination for presidency in 1980 and win the election in 1980 and 1984.
Reagan spoke of “economic freedom” and proposed an “economic Bill of Rights.” He thought that economic freedom means “curtailing the power of unions, dismantling regulations, and radically reducing reducing taxes.” All his approaches to get the economic freedom were very supportive for the rich people, and it brings the huge economic inequality in society. In his two years presidency period, “the richest 1 percent of Americans owned 40 percent of the nation’s wealth.” Ronald also was the stronger supporter of supply-side economics, and sometimes his economical decision known as “Reaganomics.”
Posted in Economic History, June 21 assignment, Political history
Tagged economic freedom, economic inequality, President Ronald Reagan, Reaganomics, supply-side economics
Comments Off on President Ronald Reagan
Economic Freedom of the 1950s
American society and culture of the 1950s was dominated by consumer driven values. These values are heavily influenced by the economic prosperity experienced in the 50s. The United States was still seen as the world’s dominant industrial power. The steel, automobile, and aircraft industry products were the most sought after in both domestic and international markets. The government also supported western state economies by issuing contracts for numerous military weapons due to the Cold War.
Jobs in the service sector also grew and because the economy was growing so rapidly, wages and benefits rose in parallel. There were relatively few strikes, high employment, and low inflation. Americans now had more residual income to spend on themselves. Credit cards and overall credit was also much easier to obtain. Jack Straus said, “The luxuries of today are the necessities of tomorrow.” Luxuries such as cars, air conditioning, dishwashers, and central heating were all becoming common items in households of the 1950s. Discount stores, shopping malls, and fast-food restaurants were also common.
The spending habits of Americans in the 1950s was similar to the spending habits of the 1920s. I believe the change in values was a result of the end of World War II. The 1950s represented the end of the Great Depression and War eras in which many items were scarce and many sacrifices had to be made. The 1950s can be categorized as a period of economic freedom, a freedom not experienced since roaring 20s.
Posted in 1953-1960, Economic History, June 15 assignment
Tagged consumerism, economic freedom, prosperity
1 Comment
