During the 1950s the economy grew exponentially which was mostly affected by Dwight D. Eisenhower's presidency and the positivity of the nation. Dwight D. Eisenhower had neglected to allow government owned health insurance, and he also refused to allow tax cuts. The U.S. had also been more successful than most of the world, including the population coming out of the war which brought many ready to work veterans. When the war was over more people had gotten jobs and started families.
When the economy grew so did most businesses, smaller companies grew and others combined to be larger, which in turn increased profitability. It was normal for average workers to join labor unions, these helped with negotiating pay raises, better working conditions, and had great additional help to give health benefits. Traveling became very poplar with Americans which in-turn supported many businesses including vehicle manufacturers and transportation services. Advertisements have always been used on newspapers to attract consumers, but the TV brought forth tons of advertisements for millions of different products and companies. During this time people had more money to buy unessential items, this helped the commercial banking industry grow, which influenced the growth of many types of companies including insurance companies. |
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