1950s: Commerce
With the American economy fully recovered from World War II (1939–45), business in the 1950s was booming. With a gross national product (also called the GNP; the sum of goods and services produced in the country) of $284.6 billion, the United States was by far the largest economy in the world. By the end of the decade, the GNP stood at $482.7 billion. Government, businesses, and unions worked together to keep the economy humming, but perhaps the biggest force in the economy in this decade was the consumer.
With more disposable income than ever before, American consumers bought a widening.....
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