Historical Development of Capitalism in the United States and Its Affects on the American Family: 1920 To 1960

Book excerpt: Since the 18th Century, Americans have engaged in the pursuit of happiness through the consumption of material things. It is written in the Preamble to the U.S. Constitution that Americans have a right to life, liberty, and the pursuit of happiness. Interestingly, the pursuit has resulted in suicide for more white males 65 years old and over than any other age group. Louisiana is the second most unhealthiest state in America, and 40 million Americans live without any health insurance. These signs of unhappiness have continued to evolve over time. By 1950, Americans produced $43.7 billion worth of manufactured goods, and by 1958, $141 billion. The average annual salary for males was $2,831 in 1958; $1,559 for females. During this time, the American household was classified as husband-wife. In 1920, 86.0 percent were husband-wife; by 1960, this percent declined to 70.0 percent. Divorce accelerated by 1960. During the 1950s, the husband-wife household was already rapidly giving way to a new form-"Single-Parent." If this pursuit of happiness through object consumption is working, then, the reverse would be true. To grasp the social decay occurring in American society today, it is essential to understand the 1920 to 1960 period.