Rates of unemployment and inflation were low, and wages were high. Between 19, the gross national product more than doubled, growing from $200 billion to more than $500 billion, kicking off “the Golden Age of American Capitalism.” Much of this increase came from government spending: The construction of interstate highways and schools, the distribution of veterans’ benefits and most of all the increase in military spending–on goods like airplanes and new technologies like computers–all contributed to the decade’s economic growth. In all, by the time the boom finally tapered off in 1964, there were almost 77 million “baby boomers.”Īfter World War II ended, many Americans were eager to have children because they were confident that the future promised peace and prosperity. About 4 million babies were born each year during the 1950s. Historians use the word “boom” to describe a lot of things about the 1950s: the booming economy, the booming suburbs and most of all the so-called “baby boom.” This boom began in 1946, when a record number of babies–3.4 million–were born in the United States.
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