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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 ...
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 Stabilization Act of 1942 (Pub. L. 77–729, 56 Stat. 765, enacted October 2, 1942), formally entitled "An Act to Amend the Emergency Price Control Act of 1942, to Aid in Preventing Inflation, and for Other Purposes," and sometimes referred to as the "Inflation Control Act", [1] was an act of Congress that amended the Emergency Price Control Act of 1942.
Two-thirds of the American economy had been integrated into the war effort by the end of 1943. [4] Because of this massive cooperation between government and private entities, it could be argued that the economic measures enacted prior to and during the Second World War helped lead the Allies to victory.
The National War Labor Board, commonly the War Labor Board (NWLB or WLB), was an independent agency of the United States government, established January 12, 1942, by an executive order of President Franklin D. Roosevelt, the purpose of which was to mediate labor disputes as part of the American home front during World War II.
Gopinath highlighted that while the conditions for another Cold War—ideological and economic rivalries between the world’s two biggest economies—were similar to those in the 20th century ...
Although the American economy began to recover in mid-1938, employment did not regain the early 1937 level until the United States entered World War II in late 1941. Personal income in 1939 was almost at 1919 levels in aggregate, but not per capita. The farm population had fallen 5%, but farm output was up 19% in 1939.