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Population growth was responsible for over three-quarters of the economic growth of the British American colonies. The free white population had the highest standard of living in the world. [5] [6] There was very little change in productivity and little in the way of introduction of new goods and services.
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.
The early technological and industrial development in the United States was facilitated by a unique confluence of geographical, social, and economic factors. The relative lack of workers kept U.S. wages generally higher than salaries in Europe and provided an incentive to mechanize some tasks.
What growth occurred was unevenly distributed; roughly half of GDP growth from 2009 to 2015 went to the top 1% of households. [16] Unlike every previous post-war expansion, GDP growth remained under 3% for every calendar year. [17] Global growth would peak in 2017, resulting in a major synchronized slowdown that started in 2018.
Timely Comics, the 1940s predecessor of Marvel Comics, had million-selling titles that featured the Human Torch, the Sub-Mariner, and Captain America. Satire and humor during the 1950s were popular and abundant. MAD, the American humor magazine, was founded by editor Harvey Kurtzman and publisher William Gaines in 1952.
Hudson cars were very popular in NASCAR in the early 1950s, in particular the Hudson Hornet, now known as well for its prominence in the 2006 Pixar animated movie, Cars. Its early popularity was due to its sleek design, low center of gravity and excellent handling, but they failed to keep up with the rest of the industry by mid-decade.
The 1950s saw the growth in popularity of the electric guitar (developed and popularized by Les Paul). Paul's hit records like "How High the Moon," and "The World Is Waiting for the Sunrise," helped lead to the development of a specifically rock and roll style of playing of such exponents as Chuck Berry, Link Wray, and Scotty Moore. [10]
1950 – NBC airs Broadway Open House a late-night comedy, variety, talk show through 1951. Hosted by Morey Amsterdam and Jerry Lester and Dagmar, it serves as the prototype for The Tonight Show; 1950 – Failed assassination attempt by two Puerto Rican nationals on President Harry S. Truman while he was living at Blair House.