!!!What was the economy like in the 1960's!?
I have to do an article by tonight and I cant find any good easy points on the internet or in books, could someone write a list of points on the economy of the 1960s, what It was like, how it changed, why the unemployment went down, and why firms increased productive? and any other stuff I can add in the article about the economy in the 1960s.
Please, you would be helping me a lot!
In the United States sorry
- KiniLv 78 years agoFavorite Answer
You would get a lot of response if you posted this in the Senior Citizens category.
I started working in 1963 and health insurance was always covered 100%. But if you didnt have insurance, the doctor didnt cost much and county hospitals were free. New cars cost around $2000 except for Cadillac wh ich cost $5000. Gasoline was 40 cents a gallon and 28 cents in Los Angeles during a gas war. When you bought gas, you got blue chip or S&H green stamps which you could redeem for merchandise at their store. No credit cards for single women. No anti-discrimination laws yet. A secretary earned $500 a month and women wore panty hose and girdles, high heels and hats and gloves. Lots of employment around for high school grads. You didnt need a resume unless you were an executive. Some phones still had party lines. No electronics really. Computers were for military and scientific use until IBM invented the keypunch machine and comptometer. We had wet copier machines and mimeographs, no photocopy. Kids were outside until dark with their friends. Jobs became automated in the late '50s but we had total manufacturing in the U.S. All electric appliances, autos, everything was made in the U.S. In the late 60s they came out with Japanese cars but they were considered inferior.
- Anonymous8 years ago
Um, where, darling?
The economy in the UK in the 1960s was quite different from that in China, where the Great Leap Forward had just failed and the Cultural Revolution was getting started. And then the economy in Ghana was different from that in Uruguay. And so forth.
- ?Lv 78 years ago
Very comfortable for the average US citizen. The Dollar became the top currency highly sought by all the other countries.
It changed when the losers recovered they produced better and cheaper goods.