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The British tried to weaken the American economy with a blockade of all ports, but with 90% of the people in farming, and only 10% in cities, the American economy proved resilient and able to support a sustained war, which lasted from 1775 to 1783. [25]: ch 42, 48
The war economy was not so much a triumph of free enterprise as the result of government bankrolling business. While unemployment remained high throughout the New Deal years, consumption, investment, and net exports—the pillars of economic growth—remained low. It was World War II, not the New Deal, which finally ended the crisis.
During World War II unemployment by 1945 had fallen to 1.9% from 14.6% in 1940. 20% of the population during the war was employed within the armed forces. [ 36 ] The beginning years of World War II shows a spike in employment, but towards the end of the war decreased significantly.
The period from the end of World War II to the early 1970s was one of the greatest eras of economic expansion in world history. In the US, Gross Domestic Product increased from $228 billion in 1945 to just under $1.7 trillion in 1975. By 1975, the US economy represented some 35% of the entire world industrial output, and the US economy was over ...
Miller, Sally M., and Daniel A. Cornford eds. American Labor in the Era of World War II (1995), essays by historians, mostly on California; Lichtenstein, Nelson. Labor's War at Home: The CIO in World War II (2003) Wynn, Neil A. The Afro-American and the Second World War (1977) Vatter, Howard. The U.S. Economy in World War II Columbia University ...
The aftermath of World War II saw the rise of two superpowers, the Soviet Union (USSR) and the United States (US). The aftermath of World War II was also defined by the rising threat of nuclear warfare, the creation and implementation of the United Nations as an intergovernmental organization, and the decolonization of Asia, Oceania, South America and Africa by European and East Asian powers ...
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Zinc and aluminum coins minted in Germany and occupied territories during World War II (18 P, 2 F) Pages in category "Economic history of World War II" The following 22 pages are in this category, out of 22 total.
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