World War II impacted the course of American history for many reasons. On October 24th, 1929 the New York Stock Exchange experienced a detrimental depression that hindered the glamour of the roaring 20’s. The results of this depression were felt far and wide. It initiated a chain reaction around the country that seemed to almost destroy American capitalism. All around the United States of America, citizens faced historically high unemployment rates, some cities reaching an upwards of 80 percent. The critically high unemployment rate forced several families into poverty, thus leading into a rapid decline in consumerism (Lecture Notes). People believed that the country would never regain the status as the great industrial leader of the world
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Bill also gave rise to consumerism in the United States. The government allotted low interest loans to soldiers returning to the country after WWII. The G.I. Bill gave soldiers the opportunity to attend college, purchase a home, or even start a small business (Lecture Notes). Without the G.I. Bill, these opportunities would not have been possible due to the low income earned while fighting in the war combined with the lingering effects of the Great Depression. While helping so many Americans elevate to middle class status, this low interest loan helped American capitalism and consumerism recover from the Great …show more content…
Many industries ended their normal production of goods and focused solely on generating items for the military, like vehicle manufacturers. The automobile industry rarely produced civilian vehicles during the war rather, manufactures assembled tanks, jeeps, and other vehicles needed for WWII. Following the war, citizens now had a surplus of money saved and could now afford the newest and most updated luxury items such as cars and other vehicles, thus continuing the demand of the automobile industry. Manufactures took advantage of this trend and created a system of planned obsolescence, the intent of creating new car model styles every year, among the industry (Lecture Notes). Like the housing industry, this created a domino effect. Not only did the increased demand and production of cars call for the creation of more jobs on the assembly line, but planned obsolescence also created the need for more auto engineers and innovators, diversifying the workforce. This implementation of planned obsolescence ensured future production and encouraged civilians to continue to purchase the most updated models of vehicles. The Automobile industry still benefits from this today. The economic multiplier effect did not stop just at the production of automobiles. Cars required maintenance, thus establishing the need for mechanics and body shops allowing
Bill also gave rise to consumerism in the United States. The government allotted low interest loans to soldiers returning to the country after WWII. The G.I. Bill gave soldiers the opportunity to attend college, purchase a home, or even start a small business (Lecture Notes). Without the G.I. Bill, these opportunities would not have been possible due to the low income earned while fighting in the war combined with the lingering effects of the Great Depression. While helping so many Americans elevate to middle class status, this low interest loan helped American capitalism and consumerism recover from the Great …show more content…
Many industries ended their normal production of goods and focused solely on generating items for the military, like vehicle manufacturers. The automobile industry rarely produced civilian vehicles during the war rather, manufactures assembled tanks, jeeps, and other vehicles needed for WWII. Following the war, citizens now had a surplus of money saved and could now afford the newest and most updated luxury items such as cars and other vehicles, thus continuing the demand of the automobile industry. Manufactures took advantage of this trend and created a system of planned obsolescence, the intent of creating new car model styles every year, among the industry (Lecture Notes). Like the housing industry, this created a domino effect. Not only did the increased demand and production of cars call for the creation of more jobs on the assembly line, but planned obsolescence also created the need for more auto engineers and innovators, diversifying the workforce. This implementation of planned obsolescence ensured future production and encouraged civilians to continue to purchase the most updated models of vehicles. The Automobile industry still benefits from this today. The economic multiplier effect did not stop just at the production of automobiles. Cars required maintenance, thus establishing the need for mechanics and body shops allowing