In America During the 1950's
The majority of Americans no longer held blue-collar or industrial jobs. More Americans started to work in higher paid, white-collar positions - clerical, managerial, or professional occupations. The jobs Americans had were in sales, advertising, insurance, and communications. With this happening, 60% of Americans began to become Middle class. The more Americans who went from blue-collar jobs to white-collar jobs became a Middle class American. This became an economic boom in America and the economy started to become better.
By mid-1950's 60% of Americans were Middle class and they had the money to buy products. New products kept appearing right after another in the marketplace. Consumers began purchasing these products such as washing machines, dryers, blenders, freezers, and dishwashers in record numbers. Manufacturers began using a marketing strategy called planned obsolescence which the product wore out or became outdated in a short period of time. Carmakers brought out new models each year. Then came the credit card - buy now, pay later, consumers bought large items on the installment plan and made regular payments over a fixed time. This caused the debt to go from $73 billion to $179 billion. Many Americans were confident that prosperity would continue.