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Economic transformation - Coggle Diagram
Economic transformation
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Provision for veterans
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By 1956, 4.3m loans had been made with a combined value of $33bn
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GI bill gave educational opportunities - around 4m returning servicemen attended colleges and technical schools through grants
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Between 1944-56, GI bill cost $14.5bn
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Growing mobility
Car sales fuelled by increase in credit purchasing, Diner's Club in 1950 was the 1st credit card
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Each year there were new models with innovations, increasing car speeds
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Productinh aided by federal construction of highways - spending went from $79m in 1946 to $2.6bn by 1960
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Between 1946-55, car production quadrupled
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New consumer society
Cars led to drive-in restaurants, movies and out of town shopping centres
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Inner cities which middle class left to live in suburbs fell into economic decline and became associated with crime and poverty
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Subruban housing developments, cars, TVs and consumer credit were features of society