Economic Policy

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By S. Rosenberg

This clearly-written publication offers an ancient research of postwar financial improvement within the US, assisting the reader to appreciate the nation's present monetary place. Samuel Rosenberg investigates 3 postwar levels: the production of an institutional framework atmosphere the degree for prosperity within the US after international warfare II, the forces undermining this institutional framework and the ensuing stagflation of the Nineteen Seventies, and the activity of a brand new institutional constitution within the Nineteen Eighties. uncomplicated fiscal ideas are brought and defined all through and particular awareness is paid to macroeconomic coverage, business family members, the function of the U.S. on this planet financial system, social and exertions coverage, the constitution of the exertions strength, and the distribution of source of revenue via race and gender.

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Extra info for American Economic Development Since 1945: Growth, Decline and Rejuvenation

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While they occurred in the early part of mobilization, they became more prevalent in 1943 and 1944 as more blacks were hired or promoted in defense industries. In addition, there were strikes by blacks against racial discrimination. Overall, there were 50 strikes in 1943 and 57 strikes in 1944 over racial questions (Crowther and Cole, 1944, p. 938, 1945, p. 968). In addition to black males, white and black women had expanded job opportunities as labor shortages emerged. The number of women in the civilian labor force increased from some 14 or 15 million in mid-1940 to some 19 or 20 million in mid-1945.

According to Mary Anderson, the director of the US Women’s Bureau, “almost overnight women were reclassified by industrialists from a marginal to a basic labor supply for munitions making” (Chafe, 1972, p. 137). Virtually all union bars against women as members disappeared by the end of 1942. As employment opportunities increased, so did access to government sponsored training programs. As the sexual bars began to bend, women responded to their newfound opportunities. Many holding low-paid “women’s jobs” quit for higher paying positions in the defense industries.

It was assumed that the government had a responsibility to maintain a healthy, growing economy. The government’s commitment to stabilizing the economy and maintaining high employment levels was formalized in the Whittington–Taft Employment Act of 1946. ” While the goals were vague, it was clear this was not a full employment bill. In addition, the legislation was extremely vague on how the goals were to be attained. There were several directions government policy could take. One was to continue the war-time planning and resource mobilization in a peace-time setting.

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