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In 1980, the American standard of living was the highest among the industrial countries, according to the OECD. Out of the 85 million households in the United States, 64% owned their own living quarters, 55% had at least two TV sets, and 51% had more than one vehicle.
The total fertility rate of the United States jumped from 2.49 in 1945 to 2.94 in 1946, a rise of 0.45 children therefore beginning the baby boom. It continued to rise throughout the 1940s to reach 3.10 in 1950 with a peak of 3.77 in 1957.
With more children being born to unmarried couples and to couples whose marriages subsequently dissolve, more children live with just one parent. The proportion of children living with a never-married parent has grown, from 4% in 1960 to 42% in 2001. [33] Of all single-parent families, 83% are mother-child families. [33]
Gordon considers that the apparent increasing economic growth since 1970 is just a faint echo of a great wave of economic growth between 1920 and 1970. The first half of the book discusses the change in the American standard of living pre-WW2, with the second half dedicated to the remainder of the 'special century' and the years post-1970. [3] [4]
Social class is an important theme for historians of the United States for decades. The subject touches on many other elements of American history such as that of changing U.S. education, with greater education attainment leading to expanding household incomes for many social groups.
America's economy has exploded since 1989. Gross domestic product, which measures all of the goods and services produced in a year, grew from $9.9 trillion to $22.5 trillion from 1989 to 2023 ...
The 1860s were a period of growing protectionism in the United States, while the European free trade phase lasted from 1860 to 1892. The tariff average rate on imports of manufactured goods in 1875 was from 40% to 50% in the United States, against 9% to 12% in continental Europe at the height of free trade. [44]
First American suggested that housing had a case of 1980s déjà vu, with high inflation, high interest rates, and homebuyers coming of age—millennials turning into their boomer parents ...