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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.
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.
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.
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 .
Inflation has moderated back to levels below 3%, the Federal Reserve is bringing interest rates back down, and the S&P 500 is up 28% year to date. As valuations in this market are looking bloated ...
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 ...