Effects Of Ww2 On The Economy

One of the major cause for the great changes during World War Era, 1890-1945, is the economic downturn. In fact most of the changes were done due to the economic crises. For example, the British debts from the Seven Years War brought England and colonists’ relationship to its knee, then again in 1780’s, the inflation of the Continental Currency forced the colonists to redesign the government system, thus constitution was adopted as the solution for strugger central government. No matter what time era it is, economic downturns always the major cause for the changes in America, the time era of 1890-1945 were no exception. Just like Revolution Era of 1754-1800, the economic crisis began due to the overconfidence in the rising economy at first. In 1760, Britain had great confidence in the colonies’ ability to produce the supplies and money to support Britain’s demand. Infact, there was exceeding net income over the military spending before the Seven Years War. America in 1890-1945 had …show more content…
Outraged by such unfair treatment and the struggling economy the colonists protested against the crown. In early 1930s, Americans were also protesting against the Great Depression. The unemployment rate rose to 24 percent, the stock market crushed unexpectedly, the banks shutted down due to lack of money supply in reserve, and the economy just went into total chaos. The public blamed president Hoover for the struggling economy, and in his “honor” they named homeless resident area the “Hooversville”. With this great economy downturn the citizens called for change, thus the most progressive minded president candidate, Franklin Roosevelt, was elected in 1932. With Roosevelt as president America undergoes the most dramatic changes in the history, and all this was due to the World War Era’s economic