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Old 09-19-2019, 06:33 PM
 
Location: Clyde Hill, WA
4,231 posts, read 755,712 times
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The US economy of the 1950s is often portrayed as an era of burgeoning prosperity, and indeed there were some positive aspects. One big reason was that the economies of our two biggest competitors, namely Europe and Japan, lay in shambles after WWII. Other than Pearl Harbor, US soil went unscathed in WWII. We also were far ahead of most of the world in education then. Today we are on the low end of the scale in that regard.

From a book by Larry Kudlow from 2016, JFK and the Reagan Revolution (highly recommended BTW), the 1950s were not all peaches and cream:

Quote:
Recessions were becoming rather the norm over this part of an era that we often today refer to as "postwar prosperity." The 1960-61 recession came on the heels of two that had already occurred during the ...Eisenhower administration. At the time of Kennedy's inauguration...the United States had spent twenty-seven of the previous ninety months in economic contraction... [that is,] 30 percent of the previous eight years in recession. This figure is so unusually large that it is difficult to find comparable periods in all of American history. For example, from 2000 to 2015...the economy was in recession...14 percent of the time.
Note of course that the 2000-2015 period includes the great crash of 2008, and yet the recession rate was less than half of that in the post-war period.

JFK tried many different things to induce economic growth. He finally pushed for a big tax cut passage. At the time of his death, it had passed the house. LBJ got it through the Senate and signed it into law in 1964, and it did indeed spur an era of great economic growth.
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Old 09-20-2019, 01:59 AM
 
80 posts, read 57,574 times
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It is late and I have been drinking, but point in fact the Japanese invaded the Aleutian Islands
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Old 09-20-2019, 07:18 PM
 
Location: Guadalajara, MX
6,248 posts, read 3,052,010 times
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Quote:
Originally Posted by travis t View Post
We also were far ahead of most of the world in education then. Today we are on the low end of the scale in that regard.
By what measure? UN produces an Education Index that factors in things like literacy rate, primary, secondary, and tertiary education attainment, expected years of schooling for children, etc. and USA ranks #8 as of 2016. Their ranking of 0.9 ranks well ahead of the median, and nowhere near the "low end" of education which is mostly poor countries in Africa.
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Old 09-20-2019, 07:41 PM
 
2,608 posts, read 1,502,247 times
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Quote:
Originally Posted by lieqiang View Post
By what measure? UN produces an Education Index that factors in things like literacy rate, primary, secondary, and tertiary education attainment, expected years of schooling for children, etc. and USA ranks #8 as of 2016. Their ranking of 0.9 ranks well ahead of the median, and nowhere near the "low end" of education which is mostly poor countries in Africa.
I'm not agreeing with what he said or anything but I'd rank us among first world nations, not some third and fourth world **** holes to pad the median.
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Old Yesterday, 12:21 AM
 
Location: Tucson AZ & Leipzig, Germany
2,561 posts, read 7,865,242 times
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Quote:
Originally Posted by Braje View Post
It is late and I have been drinking, but point in fact the Japanese invaded the Aleutian Islands
Yes, that is absolutely correct. However, it did not result in damage to the economic infrastructure of the USA as the Aleutian Islands that were occupied had very few inhabitants. The point that the OP was trying to make is that the US economic infrastructure was left virtually undamaged by WW2, not in ruins as was the case for most of Japan and Europe. That was a big reason for the strength of the US during the 1950s, in comparison to most other nations of the world. Many other nations were buying products from the US while they were in the re-building process, or to enable them to re-build an industrial base.
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Old Today, 12:02 AM
 
7,206 posts, read 4,258,589 times
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Quote:
Originally Posted by aridon View Post
I'm not agreeing with what he said or anything but I'd rank us among first world nations, not some third and fourth world **** holes to pad the median.
Only first second and third world.

First=The West
Second=Former Soviet Sphere
Third=Uninterested nations

Itís from the cold war
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Old Today, 05:37 PM
 
Location: Clyde Hill, WA
4,231 posts, read 755,712 times
Reputation: 1356
Quote:
Originally Posted by travis t
We also were far ahead of most of the world in education then. Today we are on the low end of the scale in that regard.
Quote:
Originally Posted by lieqiang View Post
By what measure? UN produces an Education Index that factors in things like literacy rate, primary, secondary, and tertiary education attainment, expected years of schooling for children, etc. and USA ranks #8 as of 2016. Their ranking of 0.9 ranks well ahead of the median, and nowhere near the "low end" of education which is mostly poor countries in Africa.
I apologize, I should have been more clear with this. We are on the mid to low end among developed countries now, as shown by our PISA scores. From another thread:
www.city-data.com/forum/53778079-post10.html

Quote:
In public education, of particular significance for citizen opportunity, in math the U.S. was ranked 31st out of 35 OECD countries (the other advanced economies using the respected PISA process) in 2015, down from 25 in 2009, ...
Canada, for example, is routinely in the top 10 in PISA rankings, while the US is routinely in the mid to late twenties.

In the 1950s the US was generally top dog in terms of education.
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