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Essay / Research Paper Abstract
In five pages this paper examines the significant economic events that occurred during this time period in an attempt to predict what will take place in the U.S. economy during the next decade. Ten sources are listed in the bibliography.
Page Count:
5 pages (~225 words per page)
File: TG15_TGeconevent.rtf
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Unformatted sample text from the term paper:
suggest that lessons must be learned from the past so that mistakes are not repeated. This is also true of the American economy. Between the years 1950 to
1990, significant economic events transpired that required policy initiatives that were met by success or failure depending upon the circumstances. These events and how they were addressed are worthy
of analysis because provide considerable insights into why problems occur, how they can escalate, and if predictors can prevent future problems from spiraling out of control. As the decade of
the 1950s began, the Marshall Plan for Economic Construction, which began in 1948 and ceased in 1952, was serving a two-fold objective. It provided Europe and Asia with much
needed financial assistance to rebuild from the ravages of the Second World War and to stimulate the U.S. economy. The largest plan of foreign aid in American history, Europe
and Southeast Asia would receive $13.2 billion over a period of four years (Carroll, 1995, p. 29). This was beneficial to the U.S. because it sustained and increased foreign
trade markets (The U.S. Economy - A Brief History, 2009). An unforeseen event - the Korean War - had two economical effects (Carroll, 1995). First, as with all
wars, there was a wartime boost because of defense spending and the manufacturing of war materials. There would be a recession thereafter, as is customary; however, it was brief
and little more than a pause in economic progress. During this decade, businesses also began merging, and the first conglomerates, such as International Telephone and Telegraph, Sheraton Hotels, and
Avis Rent-a-Car (The U.S. Economy - A Brief History, 2009). However, despite the three small recessions that were little more than blips on the radar, the American economy appeared
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