ECONOMICS
COLD WAR CULTURE
Television Industry
Description
- What: Advertising expenditures on TV, which were $170 million in 1950, reached nearly $2 billion in 1960.
- Time Period: Between 1950 and 1960
- Location: In the U.S.
- Cause: American businesses took advantage of the opportunities offered by the new television industry.
- Reason: TV was becoming more and more popular for American families to watch.
- Result: Advertising costs skyrocketed from $170 million to nearly $2 billion.
- Significance: Something that was becoming a priority in each family and it was yet another way for businesses to reach out with advertisements.
- To Whom: American businesses everywhere, as well as families.
Buy now, pay later
Description
- What: The total private debt grew from $73 billion to $179 billion for the average American civilian.
- Time Period: Between the decade of the 1950's
- Location: In the U.S.
- Cause: Many costumers made their purchases on credit, therefore didn't have to pay right away. Also, people bought large items on the installment plan and made regular payments over a fixed time.
- Reason: Americans were free with spending because they felt that prosperity would continue.
- Result: Over a span of eight years, the average debt increased over $100 billion.
- Significance: People were shifting into the continuous prosperity idea that it would never end.
- To Whom: American consumers that own a credit card or are part of the installment plan.
Pictures from this era
Televisions
TVs became very popular by the early 1950's.
TV Ads
Advertisers could now use TVs to broadcast ads for their products.
Credit Cards
The first credit card was issued in 1950, and the American Express card was introduced in 1958.