US Post-War Economic Status
Following the long period of war, the Americans had feared that the economic depression in the 1930s shall haunt their state again. But instead, the opposite took place. They rose as an economic and military superpower and controlled most of the states that were devastated during the war. They produced the goods and provided a plan to help economies of other countries. Having surpassed the wartime, the US economy came to a boom. There was a massive change in the spending vice of the people during the post-war era.
For the part of the civilians. People had a high consumer spending, mainly coping from the scarcity they had experienced during the period of war. People were buying and buying the goods that weren’t made available to them in the past years. On the government spending side, healthcare, education and government programs added up to the economic prosperity. In major addition was the high appropriated military-industrial sector being given importance (Leffler, 1994).
In connection with the significant increase in government and private spending, US economy was also boosted by massive employment during the post-war recovery period. Women gained economic independence and minority workers were back to employment. Truman’s New Deal called for employment and a battle against job discrimination. Though, during this era, inflation rose to a higher percentage due to high demand and shortage in supplies.
Though New Deal fell short for the continuity of economic progress, it established the role of government as the one responsible in generating jobs. Despite the criticism against the Bill and the pushing of Taft-Hartley Act to replace New Deal, most of the American population still chose to support New Deal.
Leffler, Melvyn and Painter, David. Ed. (1994) Origins of the Cold War: An International History. London: Routledge. (Reading Provided)Sample Essay of BuyEssay.org