What were the causes and effects of economic prosperity of the 1950's?

Economic growth can come from increased productivity, but it can also come just from a growing population, all other things being equal. Deferred consumer purchasing being deferred no longer. Even in America, the population had to tighten its belt during WWII, so that more could be spent on the war effort. One of the factors that fueled the prosperity of the '50s was the increase in consumer spending. ... The adults of the '50s had grown up in conditions of economic deprivation, first due to the general poverty of the Great Depression and then due to the rationing of consumer goods during World War II. Beginning in the 1950s, middle-class culture became obsessed with consumer goods. Increasing numbers of workers enjoyed high wages, larger houses, better schools, and more cars and household technology. The U.S. economy grew dramatically in the post-war period, expanding at an annual rate of 3.5% The economy overall grew by 37% during the 1950s. At the end of the decade, the median American family had 30% more purchasing power than at the beginning. Inflation was minimal, in part because of Eisenhower's efforts to balance the federal budget. Unemployment remained low, about 4.5%.

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