How Did The Great Depression Affect The Economy

1293 Words3 Pages

Across the long arc of American history, three moments in particular have disproportionately determined the course of the Republic’s development. Each has defined the historical legacy of a century with lasting transformative impacts. During the Great Depression of the 1930s, the American people endured the largest economic crisis in the history of the country where many became unemployed. The New Deal programs began to reshape the public’s attitudes toward government. However, only the mobilization that followed America’s entry into World War II would be the historical moment that would bring an end to the Depression. This war would be one of the most defining events in history because it solidified America’s role as a global power as well …show more content…

Though the Allies and the Axis Powers had been at war since 1939, the United States remained neutral until the Japanese attacked Pearl Harbor in December. The civilian economies of both the Soviet Union and Great Britain shrank by nearly one-third during war time. In the United States civilian consumption expanded by nearly 15 percent. The war forever banished the Depression and ignited the economic after-burners that propelled the American economy to unprecedented heights of prosperity in the postwar decades. Roosevelt created ways to maximize the advantages at minimum costs. From ‘Ken Burns “The War,” Explore PBS Website,’ it says “American industry provided almost two-thirds of all the Allied military equipment produced during the war: 297,000 aircraft, 193,000 artillery pieces, 86,000 tanks and two million army trucks. In four years, American industrial production, already the world’s largest, doubled in size.” This shows the scope of American production, post-Depression, and the major turnaround of the American economy it caused. War production profoundly changed the American industry where industries were transformed. For example, making cars turned into making engines and other parts for airplane engines, guns, tanks, and other military purposes. The War also led to many social changes, including a women’s movement that would put women into previously male only …show more content…

As soon as the Cold war was instigated, the differences in ideology and other factors became apparent which worsened the relationship between the two countries. This was shown in the many events such as the Cuban Missile Crisis and the arms race which nearly led to a war. As the Cold War progressed for decades until the collapse of the Soviet Union, it had major impacts on American society. The Cold War created a strong anti-communism idea within the USA. The hysteria over the perceived threat posed by Communists in the U.S. became known as the Red Scare. The Red Scare led to a range of actions that had a profound and enduring effect on U.S. government and society. Instigating the fear was a senator, Joseph McCarthy. The hatred got so strong that it eventually led to McCarthyism in 1950 where people were accused and aggressively investigated of being affiliated with the party without evidence. This eventually came to an end when McCarthy began to accuse everyone of being affiliated until an army man denounced McCarthyism. Although the Cold War never actually led to a hot war between the two major powers, it caused massive impact upon the world, including American society spreading the fear of communism, war and economic

More about How Did The Great Depression Affect The Economy

Open Document