The Effects Of World War II On The United States Economy

The second World War affected the United States economy in several ways. When World War II began, the United States was in the Great Depression- a time of intense economic suppression and widespread dejection across the nation lasting from 1929 until 1939. The effects of World War II are still represented today. For example, the price of one gallon of gas in 1940 was only eleven cents (Myers). Today, the cost of a gallon of gas has been increased by eighteen times the amount it was before the war. This stark difference is due to a state of inflation brought upon by World War II. Inflation was not the only side effect of the war. World War II affected the United States by ending the Great Depression, transforming American industry, and mobilizing the economy. When the war began, Americans were struggling financially and emotionally. They wished for the prosperity of the â€Å"roaring 1920s.† After the war, their vision for the world was completely revived (Winkler). Worl d War II successfully ended the Great Depression in a threefold process: starting a period of Keynesian economics, bringing seventeen million jobs to America, and boosting morale within the population. After the Nazi invasion of Poland and the Blitzkrieg (an intense military strategy intended to bring about a quick victory) against Belgium, Holland, and France during the spring of 1940, military spending skyrocketed and reached seventy-five million dollars a day by December 1941. â€Å"Within two yearsShow MoreRelatedEssay on Consequences of the World War II1306 Words   |  6 PagesIn the World War I individual rights and civil liberty have died. The wartime controls had replaced the free enterprise, exchange controls and import-export regulations had replaced the free trade. The inflation had undermined the sanctity of property. The war had shrunk the rights of individuals and enhanced the power of the State. 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