THE CONVERTIBLE CRAZE OF THE 1950s-by HUGH KARUNANAYAKE CADILLAC ELDORADO CONVERTIBLE 1953 Source:Island Image Source:Island The Korean boom of 1950/51 which created record disposable incomes within the country, elevated standards of living among those who already enjoyed a reasonably comfortable life, but sadly did not have the “trickle down” effect which most Keynesian economists of the day desired. As we all know, the much vaunted “welfare state” of Ceylon soon began to creak under the weight of welfare costs, and by mid 1953 the government took away one of the keystones of its welfare arch, by withdrawing the subsidized rice rations made available in better times. The Hartal organised by the LSSP on August 12. 1953 led to police action resulting in nine deaths. It was to be the first significant anti government protest since independence was granted in 1948. ...
Jan 30, 2024
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Articles, Hugh Karunanayake
Tagged David Silva, Feisal Abdeen, Jayantha Fernando, Killy Maharajah, Korean boom, Onally Gulamhussein, Ranjit Wijewardene, Tuti Rahim
