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However, by 1950, American rearmament and heavy spending on the Korean War and Cold War finally ended the dollar shortage. [102] The balance of payment problems that troubled the postwar government was caused less by economic decline and more by political overreach, according to Jim Tomlinson.
This era continued through the Cold War period, up to the end of the Warsaw Pact and the collapse of the Soviet Union. A 1965 article written by Marc Pilisuk and Thomas Hayden says benefits of the military–industrial complex of the U.S. include the advancement of the civilian technology market as civilian companies benefit from innovations ...
This was supported by Americans as it brought upon them a sense of security and the 3.6% GDP they were contributing to was a large decrease from the whopping amounts of capital being spent during WWII that exceeded 41%, before decreasing to 10% during the Cold War and for about two more decades after, including the Vietnam War, before beginning ...
The financing of war expenditures by the means of currency issues (printing money) was by far the major avenue resorted to by the Confederate government. Between 1862 and 1865, more than 60% of total revenue was created in this way. [4] While the North doubled its money supply during the war, the money supply in the South increased twenty times ...
The Cold War reached its most dangerous point during the Kennedy administration in the Cuban Missile Crisis, a tense confrontation between the Soviet Union and the United States over the Soviet deployment of nuclear missiles in Cuba. The crisis began on October 16, 1962, and lasted for thirteen days.
The Eastern Bloc, also known as the Communist Bloc (Combloc), the Socialist Bloc, and the Soviet Bloc, was an unofficial coalition of communist states of Central and Eastern Europe, Asia, Africa, and Latin America that were aligned with the Soviet Union and existed during the Cold War (1947–1991).
With détente, a time of relatively improved Cold War relations between the United States and the Soviets, the two superpowers developed a cooperative space mission: the Apollo–Soyuz Test Project. This 1975 joint mission was the last crewed space flight for the U.S. until the Space Shuttle flights of 1981 and has been described as the ...
During the Cold War in the 1960s, the United States and South Vietnam began a period of gradual escalation and direct intervention referred to as the "Americanization" of joint warfare in South Vietnam during the Vietnam War. At the start of the decade, United States aid to South Vietnam consisted largely of supplies with approximately 900 ...