Effects of World War II on America's Economy

Introduction

For the United States, World War II and the Great Depression of the twentieth century constituted of the most important economic events. The effects of war were many and far-reaching; it mainly led the economy to a severe depression. In order to regulate economic activities after the war, the federal government focused on certain powerful economic factors that helped the government to partially control the consumption and the spending of the economy. After the war began, various sectors of the American industry such as aviation and electronic products were produced for the defense of the country in the year 1945 (Adams, 25-136).

The labor movement was organized, and after the war the era of Great Depression strengthened into a major balance of government and private industry. Rapid changes continued to take place in technology and science of the war and helped strengthen the trend that started during the Great Depression. It also formed a number of innovative engineers, scientists, government officials and citizens of the permanent expectations. Similarly, a substantial increase in the personal and regular income, led a number of Americans to permanent improvement of their material under foreseeable circumstances. Finally, the war seriously damaged the global scale except the United States, which made after 1945 to enjoy unprecedented economic and political power of every major economy.

The Great Depression

World War II became a global conflict and was beaten during the Great Depression. It led to unstable and volatile governments, economies and countries around the world. The president of United States Franklin Roosevelt committed significantly to develop the "New Deal”, which was essentially rebuilt on the basis of the new American governance and capitalism. Since the economy started to weaken during the period 1933 to 1940, the Great Depression of the New Deal that was eased seemed to have a certain influence on the economy and led to economic crisis.

Conversion and Preparedness

In the year 1940, conversion to become government officials and labor leaders in order to pursue Walter Reuther of the United Auto Workers union in a senior army officer, claimed to provide the major automobile manufacturers into power aircraft production. Although, originally by the car company executives and many federal officials refused to Reuther plan effectively as the public's attention on preparations for the war in the U.S. lags behind. However, the auto companies that only fully translated into war production in the year 1942, only began in 1943, a substantial contribution to the production of the aircraft (Bordo, 783-896).

War Administration

During the war in the year 1939, the production was at its peak, the U.S. leaders were at the risk of war which was too high to allow economic growth in an unrestrained laissez-faire attitude. United States producers, for example, cannot be trusted to stop production of consumer goods, and initiated the production of goods for the war effort. To organize the economic growth and ensure that it needed to produce war goods, the federal government created a mobilization not just to frequently ...