Major Events that Effected the Growth of the Economy

Major Events that Effected the Growth of the Economy

In years after the conclusion of World War II the worlds economy had to build itself up and get itself back on its feet. Through destruction and financial stress the world as a hole would eventually build itself back up and thrive through hard work and a steady sense of nationalism to be the very best.

The second World War wiped out Europe’s economic base as well as their self confidence in their ability to defend themselves effectively. Right after the war was over there were different avenues of cooperation by the putting together of different organizations such as the OEEC (Organization for European Economic Cooperation) in 1948 to distribute Marshal Aid; and in 1960 the OEEC was redefined as the Organization for Economic Cooperation and Development (OECD). In the late 50s and the early 60s there was rapid growth in the economy.(War, Economy and Society: 1939-1945, ALAN S. MILWARD p. 258) The EEC was proving to be quite successful. Until their was a mild setback when President De Gaulle came into power for wanting European integration to be conducted with a confederate structure. From 1970 to 1990, Eastern European nations realized they needed a change in their governments as well as economies. Politically, reformers wanted to end party-state dictatorships and move towards a democracy. Economically, centrally planned economies were unsuccessful due to increased bureaucracy, excessive centralization, and debt obligation.

Revolutions in Eastern Europe changed countries towards market-oriented economies and democracies. Countries of the Eastern European had a similar goal in the 1970s and 1980s: to end party-state dictatorships. Under party-state dictatorships, one political party dominated the government and citizens had little participation in the government. Reformers wanted opposition parties and multiparty elections. Eastern Europe’s repressive governments suppressed any and all anti-Communist rebellions and criticisms of the government. In 1985, Soviet Union President Mikhail Gorbachev introduced his reform of glasnost, or openness. This allowed citizens of Eastern Europe to voice their opinions on the party and government. (MILWARD p.162)

Eastern Europe suffered from many economic problems. Many countries owed debt to Western nations. Central planned economies were inefficient and slow...

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... replace our depleting fuel problems so that when petrol depletes that we will have other ways of transportation. Will solar powered vehicles become our salvation? Perhaps even flying cars which use other forms of fuel to get around.

WORKS CITED

• War, Economy and Society: 1939-1945, ALAN S. MILWARD. University of Californai Press./ October 1979

• The Ordeal of Total War: 1939-1945 , GORDON WRIGHT. Waveland Press / September 1997

• Embracing Defeat: Japan in the Wake of WWII, JOHN W DOVER. North and Company 1st Edition/ March 1999

• A History of Middle East Economies in the 20th Century, ROGER OWEN,SEVKET PAMUK. I.B Taurus and company / October 1998

• Broken Empire : After the Fall of the USSR , GERD LUDWIG. National Geographic / November 2001

• Technology and War : From 2000 B.C. to the Present , Martin Van Creveld . Touchstone Rep edition / September 1991

• U.S POLICY.COM : Wartime changes in the economy, Post war economical Order, Major Events 1945 to Present , Richard J. Carroll

• A History of Our Time: Readings on Postwar America-5th Edition William Chafe. Oxford University Press, New York / 1999