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> huge boom in the US occurred thanks to the war production. Myth. Every meaningful measure of standard of living and financial conditions continued to deteri
by kingkongrevenge 18y ago
> huge boom in the US occurred thanks to the war production.
Myth. Every meaningful measure of standard of living and financial conditions continued to deteriorate through the war. Unemployment only went down because millions were drafted. GDP temporarily went up because of war materiel purchases, but this had no knock on positive economic effects.
> Nothing happened to the US market once the war was over.
Yes it did. Unemployment shot way up. It looked like the depression was going to continue just as it had. The difference was that most of the New Deal was scaled back. The government lowered intervention in the economy compared to the 30s and growth took off. The war did absolutely nothing to end the depression and made life worse.