Post-World War II Economic Boom
Definition
This refers to a period of strong economic growth experienced by many industrialized countries after World War II until about 1973. It was characterized by increased consumer spending, technological innovation, suburbanization among other factors.
Analogy
Imagine if you've been saving money for years without buying anything new. Then suddenly you get a huge bonus at work. You'd probably start spending more freely right? That's what happened to economies after WWII - they started growing rapidly because people were ready to spend again after years of war-time austerity.
Related terms
Baby Boomers: This term refers to people born during post-WWII baby boom between 1946-1964 when there was an unusual spike in birth rates due to improved economic conditions.
Suburbanization: This is a population shift from central urban areas into suburbs resulting in formation of (sub)urban sprawl.
Consumerism: This is a social and economic order that encourages the acquisition of goods and services in ever-increasing amounts.
"Post-World War II Economic Boom" appears in:
Subjects (1)
Study guides (1)
Practice Questions (3)
- Which of the following is an example of a social change that occurred as a result of the post-World War II economic boom?
- Which of the following industries experienced significant growth during the post-World War II economic boom?
- Which of the following is an example of a negative consequence of the post-World War II economic boom?
Resources
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.