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U.S. Economy Before and After World War II
The economic situation in the United States is in opposite extremes, and this is due to the historical effects that have occurred before and after the Second World War. This paper will discuss and analyze the reasons why U.S. economy had flourished successfully after the WWII than during the pre-war periods. In analyzing the events that happened and the reasons explaining the occurrence of depression during pre-war America and the economic success in post-war America, a comparative analysis will be included for better distinction of these two events in America's history.
The main difference in the United States economy between pre- and post-war America is that pre-war America during the 1930s had experienced a severe economic downfall, and this event is called the Great Depression. Meanwhile, post-war America had flourished economically after the war, especially with the advents of electronics manufacturing, which remains to be a gigantic business in America's economy today.
There are several reasons why the Depression in America took place prior to the war, and not at the end of the war, as what might be logically predicted. Take not that in the 1920s, America had also participated in the First World War, and after WWI, a sudden influx of economic and financial resource helped the...
Because of the 'booming' economy of the nations, spending increased, and speculation in the market had also increased due to abundant economic resources. As a result, when the stock market had crashed due to the overwhelming amounts of speculative trading and investment, the market and America's economy went down. Along with the country's downfall economically is the severe food shortage, high rates of inflation, and nationwide unemployment occurred. Long lines for food and a chance for good employment became a daily occurrence in the American life, and people had to live with rations and have to scrounge for food stamps in order to eat three times a day and survive.
Meanwhile, post-war America had experience economic turmoil before the WWII happened. WWII occurred immediately after the Great Depression, and because of this, American economy had gone up after the war, as a result of the Allied nations' success in defeating the Axis coalition, and since greater confidence in America had begun, the country's economy had met support from international financiers, and once again, after the Great Depression, American economy had recovered.
One primary comparison here is that American economy prior to WWII had experienced economic success before the Great Depression happened, while post-war…
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