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The United States Economic Development in the World War II - Essay Example

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Summary
This essay aims to identify major factors, that contributed to the transformation of the United States into the major economic superpower in the world, during and after the World War II. As it is shown in the essay, the focus of the United States at that time was to maximize an outcome in economy…
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The United States Economic Development in the World War II
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The United States Economic Development in the World War II

Download file to see previous pages... This essay outlines the efficiency of the economic policies of American government in war and post-war period, that led to strongly improved performance of the economy in the world.
There are several reasons that led to wage rise during the Second World War. One reason that led to the rise in wage rates during the Second World War was the increased efficiency in jobs. Millions of residents of the United States of America who worked in occupations that were less productive moved to more efficient occupations. By acquiring efficient jobs, they earned more from their occupations. During the Second World War, wages also increased because productivity was equally improved. The improvement in productivity was brought about by better technologies that were put in place.
The United States of America got its resources using an array of methods. One of them was excessive use of taxation. High taxes were imposed on workers as a way of mobilizing resources. The Congress collaborated with Roosevelt to impose heavy taxes as a way of mobilizing resources.
The rates of marginal taxes increased from 81 per cent to about 94 per cent during the entire duration of the Second World War. The income level that was subjected to tax was also lowered
Following the World War II, the increase in the demand of consumers for commodities fueled a robust economic growth. One industry that benefited from the consumer demand was the motor vehicle industry. To add to that, electronic and aviation industries witnessed enormous growth.
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The army was well marshaled to a force that was feared in the battlefield during the entire season of the war. By the year 1945, the military of the United States of America comprised of at least 13 000 000 million men, in addition to women who were in unison. This jump started the successful tradition in battle fields the United States of America has enjoyed till today. The industrial strength of the United States was also a crucial factor that was observed not only during but also after the Second World War. As much as they imported most of the resources they used outside the nation, their Gross domestic product stood the highest across the entire world. This margin was very large compared to those of other parts of the world (Young, 2013). During the post war era, the industry was transformed into an economic powerhouse still being witnessed today in the United States of America. These are of the reasons that led to the success of the United States as far as economic growth was concerned. They were able to recognize some of the gaps by other countries which they filled well. The post war prosperity that was witnessed in the United States of America after the Second World War was such a golden chance to the capitalists. This was attributed to maturity in bonds of about 200 million dollars from the years between 1945 to 1973.These bonds were financed by their work force that was educated. The post war prosperity and economic growth was also brought about by the increased number of farm workers who secured jobs in cities and towns across the United States of America. Before the Second World War, the economics of the United States ditched into a great depression. This occurred in the period between 1929 to 1941.In 1932, the ...Download file to see next pagesRead More
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