Question

What caused the rise in prosperity in the United States following WWII?

Answer 1

Consumer's society developed after WWII and fuelled an unprecedented economic growth.

Explanation:

After 1945, countless new markets emerged, people started to buy consumer's goods such as cars or televisions. Though this prosperity did not benefit to everyone in American society, such a high standard of living had never been attained in American History.

A virtuous circle started after 1945, people had more purchasing power, companies made huge benefits and could hire massively, unemployment was thus low. Leisure and hobbies became trivial for the vast Middle Class that emerged during that period.

Economies work in cycles, this point of view was emphasized by economists such as Schumpeter, the negative cycle of the thirties reversed after WWII. In the seventies, the growth cycle of the Post-WWII years eventually reversed.