Thursday, December 1, 2016
How did the start of WW2 help the U.S get out of the depression?
One of the main factors that got the U.S out of the great depression was the start of WW2. A contributing factor was the rise of the plane industry. The U.S realized that planes would be part of WW2 so they started mass producing them. Before this, the U.S only took up 5% of the investments into the industrial industry, but after the start of manufacturing planes it bumped up to 67%. This increased the number of jobs for manufacturing the planes and getting materials. For 20 years before the manufacturing planes, the largest industry was the manufacturing of cars, but once WW2 started the plane industry was four times larger than the car industry. In all this is just one of the many ways WW2 helped get the U.S out of the depression.
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Interesting. I read somewhere else that the Depression was ended by sharp reductions in spending and regulation near the end of the war. I suppose there are multiple factors which contributed, but WW2 was definitely the main cause of the end of the Depression.
ReplyDeleteIn addition to your points, with a crippling factory growth as well as a stop to the industrial boom, the economy kept getting worse. The start of WWII, industries in the US needed to supply the massive amount of weapons and military equipment which created tens of thousands of jobs. I believe this was the only factor the helped stop the Great Depression and helped bring the US economic disaster to become stable again.
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