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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.
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.
In Democracy and Development: Political Institutions and Well-Being in the World, 1950–1990 (2000), [39] Adam Przeworski argued that "democracies perform as well economically as do authoritarian regimes." [40] A study by Daron Acemoglu, Suresh Naidu, Pascual Restrepo, and James A. Robinson shows that "democracy has a positive effect on GDP ...
Apart from these factors, hard work and long hours at full capacity among the population in the 1950s, 1960s and early 1970s and extra labour supplied by thousands of Gastarbeiter ("guest workers", since the late 1950s) provided a vital base for the sustainment of the economic upturn with additional workforce. From the late 1950s, West Germany ...
The BBC's early television service was given a major boost in 1953 with the coronation of Elizabeth II, attracting a worldwide audience of twenty million, plus tens of millions more by radio. Many middle-class people bought televisions to view the event. In 1950 just 1% owned television sets; by 1965 25% did, and many more were rented.
The 1950s (pronounced nineteen-fifties; commonly abbreviated as the "Fifties" or the "' 50s") (among other variants) was a decade that began on January 1, 1950, and ended on December 31, 1959. Throughout the decade, the world continued its recovery from World War II , aided by the post-World War II economic expansion .
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.