Module 1: Prosperity

Prosperity

After World War II, the United States experienced a period of unprecedented economic growth and stability, often referred to as the "Golden Age of Capitalism." This era, spanning roughly from 1945 to the 1970s, was marked by a combination of high wages, low unemployment, and rising living standards for much of the population. This period of prosperity was also called the "Thirty Glorious Years," a time when the American economy expanded rapidly, fueled by pent-up consumer demand, technological innovation, and a booming manufacturing sector. As industries adapted to peacetime production, the U.S. was able to dominate global markets, cementing its role as an economic superpower.

Labor unions played a critical role in the economic success of this era. High union density in key sectors like manufacturing, construction, and transportation helped secure significant wage increases and improved working conditions. As unions negotiated collective bargaining agreements, they were able to push for higher wages and better benefits for their members, contributing to the rising middle class. With union influence, workers gained a stronger foothold in negotiations, ensuring that the benefits of economic growth were shared more broadly across society. This helped to reduce income inequality and foster a sense of shared prosperity that defined the post-war period.

In addition to rising wages, the period of post-war prosperity also saw notable advances in social and economic equality. With low unemployment rates and an expanding economy, more Americans were able to enter the middle class, and many families enjoyed a higher standard of living than ever before. The United States invested heavily in infrastructure, education, and housing, further fueling economic growth and contributing to widespread prosperity. While the benefits of this prosperity were not universally shared and certain groups were excluded, the general trend was one of rising economic opportunity and a relatively equitable distribution of wealth, making the post-war decades one of the most economically successful in American history.