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¶ … consequences that WW2 had on United States society.
The Banks
World War 2 had enormous consequences on many parts of American life. One of these was on the economy, and included in the economy was the result that the War had on the banks.
Admittedly, it wasn't just the War that impacted the banks; Franklin Delaney Roosevelt's New Deal had an inextricable impact too in enhancing the security of the banking system. Initially, involvement of commercial banks in securities underwriting under-cut bank stability. Roosevelt, therefore, implemented the Glass-Steagall Act of 1933 which separated between commercial and investment banking. Roosevelt also introduced Regulation Q, which forbade banks from paying interest on checking accounts and established a limit on interest rates paid to time deposits.
The post-World war booming era helped these new policies along. Some of Roosevelt's reforms persisted into he 21st century; other have instigated discussion and have been changed by, for instance, the Financial Services Modernization Act (Gramm-Leach-Bliley) of 1999 which blurred the previous strong demarcation between...
Net U.S. Banking History)
Relief for the unemployed
Most historians believe that it was WWII that ended the great Depression by its providing culminative relief for the unemployed. Economists too believe that it was Government spending on the war that was the defining act in bringing unemployment under control. (*9, 54-55). America's entry into the war brought the U.S. unemployment rate down below 10%, and War spending doubled the economic growth rate bringing an end to the Depression and, simultaneously, employing more people. Businessmen took advantage of liberal government contracts and doubted their outputs. Government and entrepreneurs ignored the massive national debt and heavy taxes and were more energetic in introducing innovation and launching businesses than ever before. (Americaslibrary.gov.).
The War had many effects on American society. These included: ending isolationism, quelling depression, providing unprecedented social and economic mobility, fostering national unity, and expanding the federal government. The U.S. government spent more than $300…
References
Americaslibrary.gov. Depression & WWII.
http://www.americaslibrary.gov/cgi-bin/page.cgi/jb/wwii
Dull, Jonathan R. (1987). A Diplomatic History of the American Revolution. Yale University Press.
EH. Net U.S. Banking History http:/ / the.net/encyclopedia/article/grossman.banking.history.us.civil.war.wwii
Consequences of World War II on the United States The events of Second World War played a crucial role in the rise of the United States and in shaping its post-war foreign policy. It was this war, which determined the exact nature of power and influence that future superpowers needed to possess in order to dominate the rest of the world. Oddly enough, 'might' as we understood previously was replaced
United States Foreign Policy United States has enjoyed an important position in the international political scene, since its rise to power. The U.S. government has actively participated in international political issues, primarily for the sake of country's own interest. After the Second World War, United States emerged as one of the largest economies of the world and soon acquired the position of the "only super power." The history of the United
To an extent, the idea of Cold War nation building has been in evidence in attempts to instill democracy in fronts such as Afghanistan and Iraq. But as a new president seeks to undo the damage of previous security policy conditions, it is apparent that this is an archaic approach to understanding the way individuals tend to behave under foreign occupation. The resistance that has made Iraq one of
Governments turned out to be involved with original subjects for instance rationing, manpower distribution, home defense, removal in the time of air raid, and reply to job by an enemy control. The confidence and mind of the persons replied to management and publicity. Classically women were militarized to an exceptional degree. The achievement in rallying financial production was a main factor in secondary battle processes. Altogether of the power
These men represented a number of virtues and standards that were in accordance with those core, basic elements of humanity that the war threatened. The affection that the author feels for the old breed, in their attempts to help him and others ultimately win their own personal wars against debauchery, are alluded to in the following quotation. War is brutish, inglorious, and a terrible waste. Combat leaves an indelible mark
Gradually, though, the war effort eroded the practical and theoretical underpinnings of racism in the United States. The war stimulated the domestic economy, particularly in the industrial and manufacturing sectors. Jobs were opening up rapidly, and because so many white men were fighting the war, many black men were available to work. "For black workers World War II opened up opportunities that had never before existed," (O'Neil 1). The