How Did The Second World War Affect The American Economy
Secondly, the Second World War had done no damage to the American economy, but rather brought it back from the dead and made it better than it ever was. Before WWII, the United States was struggling through the Great Depression, the single most devastating economic crisis in the history of the world. Millions of Americans were unemployed, resulting in families becoming homeless and starving, with many dying due to the conditions they were forced to live in. When the Second World War began, it was a beacon of hope and prosperity for the failing American economy. With war, comes the demand for munitions, so as a result, many wartime manufacturing factories were established all throughout the nation that brought a high demand for labor. The national unemployment
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Although the economy rose during the war, it was really the post-war period where unprecedented economic prosperity took place. Before the war, Europe was the leading superpower that had a plethora of power, colonies, and money under its control. With the Allied powers victory, a majority of Europe was left in shambles and was forced to relinquish many of its colonies with the sole focus of rebuilding their countries from the ground up, leaving a large hole in the world order that was left to America and the Soviet Union to fill. With most of the combat occurring in Europe, Africa, and Asia, America suffered very little damage, so while the other nations were rebuilding themselves, the US was focused on strengthening the economy further. With the economy in excellent shape, many Americans lived quality lives. With WWII coming to an end, and a majority of veteran’s back home, the United States experienced a large scale population growth (an increase of 19 million), known as the baby boom, that shaped the country for
Although the economy rose during the war, it was really the post-war period where unprecedented economic prosperity took place. Before the war, Europe was the leading superpower that had a plethora of power, colonies, and money under its control. With the Allied powers victory, a majority of Europe was left in shambles and was forced to relinquish many of its colonies with the sole focus of rebuilding their countries from the ground up, leaving a large hole in the world order that was left to America and the Soviet Union to fill. With most of the combat occurring in Europe, Africa, and Asia, America suffered very little damage, so while the other nations were rebuilding themselves, the US was focused on strengthening the economy further. With the economy in excellent shape, many Americans lived quality lives. With WWII coming to an end, and a majority of veteran’s back home, the United States experienced a large scale population growth (an increase of 19 million), known as the baby boom, that shaped the country for