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Expansion resumed following a return to growth in May 1954. Employment and GDP growth slowed relative to the previous two expansions. April 1958– April 1960 24 +3.6% +5.6%: A brief, two-year period of expansion occurred between 1958 and 1960, followed by another monetary recession in 1960. Feb 1961– Dec 1969 106 +3.3% +4.9%
In early 1950s, the Soviet Union, having reconstructed the ruins left by the war, experienced a decade of prosperous, undisturbed, and rapid economic growth, with significant and remarkable technological achievements most notably the first earth satellite. The nation made it to the top 15 countries with highest GDP per capita in the mid-1950s.
High tariffs were a policy designed to encourage rapid industrialisation and protect the high American wage rates. [45] In the early 1860s, Europe and the United States pursued completely different trade policies. The 1860s were a period of growing protectionism in the United States, while the European free trade phase lasted from 1860 to 1892.
1960 – U-2 incident, wherein a CIA U-2 spy plane was shot down while flying a reconnaissance mission over Soviet Union airspace 1960 – Greensboro sit-ins, sparked by four African American college students refusing to move from a segregated lunch counter, and the Nashville sit-ins, spur similar actions and increases sentiment in the Civil Rights Movement.
Beatniks and the Beat Generation, an anti-materialistic literary movement whose name was invented by Jack Kerouac in 1948 and stretched on into the early-mid-1960s, was at its zenith in the 1950s. [74] Such groundbreaking literature from the beats includes William S. Burroughs' Naked Lunch, Allen Ginsberg's Howl, and Jack Kerouac's On the Road.
The book depicts American history throughout the 1960s. The book's title refers to a fragile but stable social fabric that was present in the United States in the 1950s, held together by racial segregation, an expanding military industrial complex and repression of sexual rights; a social order that would be shattered in the 1960s.
During Berkshire Hathaway’s annual meeting, he noted that the “incredible period” of growth for the U.S. economy is coming to an end, reported Max Reyes and Bloomberg for Fortune — and ...
Early settlers discovered that the Great Plains were not the "Great American Desert," but they also found that the very harsh climate—with tornadoes, blizzards, drought, hail storms, floods, and grasshopper plagues [40] —made for a high risk of ruined crops. Many early settlers were financially ruined, especially in the early 1890s, and ...