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2S The Making of Modern Britain, 1951–2007

The Long Boom and Stop-Go

  • 3 things to know
  • Component 2

Overview

Recall questions on the prosperity of the 1950s, the pressure on sterling from the balance of payments and the damage done by stop-go.

What you need to know

Answer each one before you reveal it.

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Key term

What were the key characteristics of the post-war economic boom through the 1950s?

Key term

What consumer goods reflected rising living standards in the 1950s and early 1960s?

Key term

What mechanisms transformed British society through consumerism during this period?

Questions from this subtopic

Each one with the model answer underneath.

  1. 1

    What were the key characteristics of the post-war economic boom through the 1950s?

    Model answer

    Sustained economic growth, low unemployment, and rising industrial output

  2. 2

    Why did balance of payments issues create pressure on sterling during this period?

    Model answer

    Britain imported more than it exported, creating pressure on sterling and depleting foreign currency reserves

  3. 3

    What were stop-go policies?

    Model answer

    Policies that alternated between stimulating the economy (go) and then deflating it through higher interest rates and spending cuts (stop) to address balance of payments crises

  4. 4

    How did stop-go policies negatively affect the British economy?

    Model answer

    They created economic instability and hindered long-term industrial investment and planning

  5. 5

    What consumer goods reflected rising living standards in the 1950s and early 1960s?

    Model answer

    Televisions, washing machines, refrigerators, and cars

  6. 6

    What phrase did Macmillan use in 1957 to capture the sense of growing affluence?

    Model answer

    Most people had 'never had it so good'

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