Post-World War II economic boom
Definition
The post-World War II economic boom refers to the period following World War II, roughly from the late 1940s to the early 1970s, characterized by rapid economic growth, increased consumer spending, and technological advancements.
Analogy
Picture a roller coaster ride that suddenly shoots upwards after a slow climb. The economy takes off like a rocket with businesses thriving, people buying more goods and services than ever before.
Related terms
Suburbanization: The process of population movement from cities into surrounding suburban areas.
Baby Boomers: A term used to describe individuals born between 1946 and 1964 due to a significant increase in birth rates during this time period.
Consumerism: A cultural and social phenomenon where there is an emphasis on consumption of goods and services as a means of personal gratification.
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