Asked by: Gerarda Avdeenko
asked in category: General Last Updated: 13th February, 2020

Why did the US economy boom after ww2?

Many Americans feared that the end of World War II and the subsequent drop in military spending might bring back the hard times of the Great Depression. But instead, pent-up consumer demand fueled exceptionally strong economic growth in the post-war period. More and more Americans joined the middle class.

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Considering this, what happened to the US economy after ww2?

The Postwar Economy: 1945-1960. As the Cold War unfolded in the decade and a half after World War II, the United States experienced phenomenal economic growth. The war brought the return of prosperity, and in the postwar period the United States consolidated its position as the world's richest country.

Also, why did the economy boom in the 1950s? One of the factors that fueled the prosperity of the '50s was the increase in consumer spending. The adults of the '50s had grown up in general poverty during the Great Depression and then rationing during World War II. When consumer goods became available in the post-war era, people wanted to spend.

People also ask, how did the US benefit from ww2?

High employment leads to prosperity. Another very important and major economic benefit of World War II was that the industrial renewal and large scale employment it caused - both in the military itself and in the industries that supported it - brought us once and for all out of the Great Depression.

Is America in a golden age?

United States. 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. The US underwent its own golden age of economic growth.

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