6 - Dwight Eisenhower’s America

Summary

The 1950s is known as a time of great prosperity as the gap between the richest and the poorest narrowed to its lowest point in history and as social mobility was at its highest. It was also a time in which an extraordinary array of commercial products entered our economy as the result of federal research and development programs. After America’s development of the atomic bomb, the Manhattan Project supported the transformation of the technology into more productive commercial uses. This role was repeated in the 1950s when the space race contributed to the federal development of the internet, together with a vast array of technologies such as cell phones and GPS services that we use today. However, there was a dark side to the 1950s. Racism was rampant and anxiety about nuclear disaster increased. In response to that anxiety, there were two movements in the United States. On the left there were movements for student democracy, civil rights, women’s rights, and the like. On the right, a new style of economics was emerging with great allegiance to markets and a commitment to reduce the size of government. Once again, we see the tension between markets and government which remains with us.