The Ups and the Downs

Following the close of the second world war, there was again a readjustment period to the peacetime economy. With this readjustment period came another increase in the amount of women in the work force, an 18% increase at that. The number of college students doubled, making it a feasible goal, not only one for the elite. In addition, the 50’s brought many technological advancements and powerful companies behind these inventions. The housing industry boomed, resulting in a boom for the Savings and Loan Association and their holdings in mortgages. Even businesses such as Playboy emerged with the newest sexual revolution of the 1960’s.

The atmosphere within corporations had also changed. These changes created office spaces with thin, attractive secretaries and smoke-filled offices full of employees socializing in their free time. Offices were very hierarchical, with women most commonly taking jobs with little skill required, such as secretarial positions This tended to occur even when women were overly qualified for higher positions within a company.

The economic expansion in the 50’s permitted expansion of business and of corporations, both domestically and internationally. General Motors, one of the many businesses that invested at home and abroad, continued to manufacture and sell their vehicles during the war. The growing economy that developed after the war increased GM’s production exponentially. GM produced 112 vehicles in 1948, with an increase to 20,000 vehicles by 1950 and a huge jump to 133,000 by 1962.

This prosperous expansion allowed consumers to increase their standard of living and their purchasing power. This allowed households to "keep up" with society. For example, between 1959 and 1970, the amount of households in the U.S. with a TV rose from 88 percent to 96 percent. This also allowed CBS, NBC, and many other companies that would grow to become household names. 

This time period is a bit more difficult to relate to the present, considering I have not seen this type of prosperity first-hand. The war took a toll on the economy and it had to bounce back once the war ended. Similarly, we had a huge economic recession in 2008 and the housing market crashed and burned before our eyes. As with a post-war economy, the economy had to be rebuilt after the great recession of 2008. The economy now isn't necessarily "prosperous", but it's getting better and the future is looking a little brighter. 

While economic ups and downs are normal, the direction the economy goes correlates with the direction profits for corporations go. The 50's and 60's were great both monetarily and for big business, but the war that occurred directly prior spiked that prosperity.