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And in the 1950s the American economy was the strongest in the world.
In the 1950s people were receiving jobs as large companies created more jobs and we were buying new technology such as the transistor and color television. People also began to work in white-collar jobs more than ever, and the baby boom, coupled with the GI Bill, laid the groundwork for newly developed communities and suburbs. Other economic activities were buying on credit, playing the stock market, and taking loans from banks.
A nation's prosperity is measured by its national income, the value of all the goods and services it produces, and also called the gross national product (GNP)...
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