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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 ...
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
Following the end of World War II and the large adjustment as the economy adjusted from wartime to peacetime in 1945, the collection of many economic indicators, such as unemployment and GDP, became standardized. Recessions after World War II may be compared to each other much more easily than previous recessions because of these available data.
Mount Washington Hotel. The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44 allied nations at the Mount Washington Hotel, in Bretton Woods, New Hampshire, United States, to regulate what would be the international monetary and financial order after the conclusion of World War II.
Koistinen, Paul A. C. Arsenal of World War II: The Political Economy of American Warfare, 1940–1945 (2004) 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 1973–1975 recession or 1970s recession was a period of economic stagnation in much of the Western world during the 1970s, putting an end to the overall post–World War II economic expansion. It differed from many previous recessions by involving stagflation , in which high unemployment and high inflation existed simultaneously.
The American economy has always been cyclical, going from boom to bust and back again. However, 2020 saw an entire economic cycle in a matter of months. ... Once America entered World War II, the ...
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.