The 1930s plagued St. Louis with unrelenting economic hardships until war based economies began to prepare for the inevitable global conflict of the early 1940s. World War II revitalized the economy of the St. Louis region and relieved the population from the constraints of the Great Depression. The city experienced a 50% decrease in manufacturing, and unemployment levels greater than 30% by the end of 1933. Projects through the Works Progress Administration put people to work, but did little in reviving the ailing city. The threat of World War II, however, relieved St. Louis from the economic strife and put men and women of all races to work in order to aid the allied war effort. St. Louis changed to accommodate the new war industries by allowing companies to come into the region, such as Atlas Powder Company, and also by changing current production practices for the war as when Chevrolet converted to creating amphibious vehicles for the Normandy Invasion. The war created much needed jobs for the city and its residents. World War II economically revitalized the city, but it also ch...
Once the war ended, soldiers returned home to find a prosperous economy with innovations and jobs. Sub-sequentially, in 1950 and 1960, the commodity industry was booming and citizens had disposable money to spend (Broughton 27). Manufacturing towns such as Galesburg saw immense prosperity. In ten years leading up to 1974, manufacturing jobs increased by 62% in 1974 and the area was quickly coined Appliance City (Broughton 33). However the economy started to shift and these companies needed to find ways to cut their costs and remain competitive to make a profit. For the decision makers in these firms, “everything boiled down to economics… what can a company do to reduce or minimize their costs” (Broughton 82). Instead of attracting cheaper labor, Maytag and other manufacturing companies relocated their plants in less developed companies, such as Mexico. This environment provided cheaper resources of all kinds. Maytag closed its Galesburg facility to open one in Reynosa Mexico and several other companies did the same. From 1998 to 2003, the United States lost three million manufacturing jobs (Broughton 64). This drastically killed American towns that were reliant on these jobs. Towns such as Galesburg lost their jobs and became a ghost
Third, during the war the US economy plummeted as we were still recovering from the great depression. We didn’t have much time since the great depression to the war. The unemployment rate since the great depression was low, but the war started to change that. “The United States was still recovering from the impact of the Great Depression and the unemployment rate was hovering around 25%”(Impact...KLRU). A lot of men were sent off to war so there jobs were not getting done and someone had to get them
In Conclusion, the success of the war was substantial impacted by the work on the home front. However, even though it had a substantial impact it wasn’t the only reason America was so successful. The way the production changed during World War Two still impacts our lives today due to all the great inventions we got out of World War Two and the decades after.
Before World War I, the nation’s cities were primarily industrial. During and after World War I, there was a demand for workers that stimulated an influx through northward migration of hundreds of thousands of southern blacks into ...
Great Depression was one of the most severe economic situation the world had ever seen. It all started during late 1929 and lasted till 1939. Although, the origin of depression was United Sattes but with US Economy being highly correlated with global economy, the ill efffects were seen in the whole world with high unemployment, low production and deflation. Overall it was the most severe depression ever faced by western industrialized world. Stock Market Crashes, Bank Failures and a lot more, left the governments ineffective and this lead the global economy to what we call today- ‘’Great Depression’’.(Rockoff). As for the cause and what lead to Great Depression, the issue is still in debate among eminent economists, but the crux provides evidence that the worst ever depression ever expereinced by Global Economy stemed from multiple causes which are as follows:
On the heels of war, new technology caused a decrease in prices of goods in the 1920’s and in the 1950’s the GI Bill increased income. The bureaucratization of business in the 1920’s meant that more people could be employed in higher paying white-collar jobs than before, including, for the first time, housewives. This new income combined with the reduced prices for goods that resulted from mechanized production, assembly lines and a general decrease of the cost of technology created a thriving consumerist middle class that went on to fuel the economy in all sectors, especially the upper classes. Likewise, during World War II Americans saved up around 150 billion dollars, and this sum combined with the income of the GI Bill allowed normal people to buy expensive things, from houses to cars to electronics to educations at a rapid rate, fueling the trademark prosperity of the 1950’s. The new automobile culture of the 50’s spawned new businesses that catered to mobile Americans, such as nicer and more standardized hotels like Holiday Inn, and drive-up restaurants like McDonalds. Just as the culture of the 1920’s was transfo...
October 29th, 1929 marked the beginning of the Great Depression, a depression that forever changed the United States of America. The Stock Market collapse was unavoidable considering the lavish life style of the 1920’s. Some of the ominous signs leading up to the crash was that there was a high unemployment rate, automobile sales were down, and many farms were failing. Consumerism played a key role in the Stock Market Crash of 1929 because Americans speculated on the stocks hoping they would grow in their favor. They would invest in these stocks at a low rate which gave them a false sense of wealth causing them to invest in even more stocks at the same low rate. When they purchased these stocks at this low rate they never made enough money to pay it all back, therefore contributing to the crash of 1929. Also contributing to the crash was the over production of consumer goods. When companies began to mass produce goods they did not not need as many workers so they fired them. Even though there was an abundance of goods mass produced and at a cheap price because of that, so many people now had no jobs so the goods were not being purchased. Even though, from 1920 to 1929, consumerism and overproduction partially caused the Great Depression, the unequal distribution of wealth and income was the most significant catalyst.
The Great Depression was a period from October 29, 1929 to around 1940, close to when the U.S. entered World War II. This period was an economic depression that was started by the Stock Market crash. Such a catastrophic time span has many different causes that can all relate and combine. The Great Depression had many underlying causes that started originated after World War I. A series of events, including the economic boom of the 1920’s were contributors to the Great Depression.
The Great Depression was a period, which seemed to go out of control. The crashing of the stock markets left most Canadians unemployed and in debt, prairie farmers suffered immensely with the inability to produce valuable crops, and the Canadian Government and World War II became influential factors in the ending of the Great Depression.
During the aftermath of World War I great change was happening to America’s society. Of the nations that were involved in the worldwide conflict from 1914 to 1918 no other nation experienced prosperity socially, politically, and economically as quickly as did the United States of America. The middle-class American suddenly became the most important component to the growth of the American economy. As the purchase of luxuries, the automobile in particular, became more available to middle-class, opportunity in the housing and labor industries expanded.
The events of the 1930’s, or the Great Depression, did the most to influence contemporary America. During the twenties, America was at its most prosperous economic times until the stock market crashed in 1929. The stock market crash led to a dramatic decline of the U.S. economy. The decline in the economy changed Americans everyday lives. In 1932, Franklin D. Roosevelt was elected president and he created the New Deal to provide relief, recovery and reform. The Depression impacted America in the 1930’s in every aspect of life and still impacts America today. Although contemporary America was shaped by many events that occurred in the 20th century, America was most influenced by the 1930’s because of legislation that improved daily life during the Depression, the effects on the economy, and how leisure time and entertainment changed our culture.
The causes and far-reaching effects of The Great Depression are examined. Discussion includes its impact on both American cultures and nations around the world. The role of World War II and the New Deal in overcoming the Depression are explored.
Aside from national security interests domestic thirst for oil boomed. The war brought us out of the Great Depression. During the Depression a traditionally capitalist American society embraced a kind of socialism with the New Deal. WWII transformed the bear turned in a raging bull. Capitalism was back with a vengeance, charging forward stronger than it had ever been before. The heavy industry built up to sustain the war effort was retooled to meet the demands of the emerging consumerist culture of the 1950s. The new explosion of industrial output became so pervasive that the decade ended with President Eisenhower warning of the dangers of the growing “Military-Industrial Complex.”
During the twenties the economy had a definite impact on the society. It benefited some, but hurt others. The people that benefited were the prairie farmers and the oil companies. The people who didn’t benefit were American soldiers returning from WW1. Around the middle of the twenties, a wheat farmer was the person to be. Business was booming for all the wheat farmers, places like Europe, which were in war, were hungry for American’s wheat and contributed tremendous business to the American wheat industries. Farmers began making more money than ever before, and they started buying farm machinery to take place of their cattle and horses. Prices of wheat were at an all time high, which gave America’s wheat industry an even bigger advantage and a bigger form of money making in our economy. American soldiers on the other hand who had returned from war were expecting to be employed when they returned, but not even after fighting for their country could they get a job. It was very hard to get a job because women and immigrants had taken them all during the war. American soldiers were surprised at how difficult it was to...
As a result of the United States joining the war in 1916, industry productions boomed. (Effects of WWI in America) Factories and manufacturers had to keep up with the growing demands of the war effort by solely producing weapons, tanks, airplanes, and any other necessary products. In order to produce more material in a short amount of time, new technologies were developed to help manufacturers meet the needs of the people and government. Also, more employment opportunities opened for women and African-Americans. With fewer healthy, working men in America, women became the main work force, largely employed in factories across the nation. (Effects of WWI in America) African-Americans also became popular in factories as they migrated to cities in search of job opportunities. As industries boomed during this time, so did the economy. According to David Jarmul, "Because World War One left Europe so devastated, industry boomed in the United States to fill the worldwide demand." By the end of World War One, the United States produced more goods and services than any other nation. (Jarmul) Americans had more coal, food, cloth, and steel than even the richest foreign countries. In 1920, the United States ' national income became greater than the combined incomes of France, Britain, Canada, Japan, Germany, and seventeen smaller countries. The Unite...