How the U.S. Economy Changed After WWII Ended
The American economy changed greatly during the Second World War with the great depression hitting the world and in particular the United States. There was a tremendous fall in tax revenues, profits, and personal income this affected wealthy people as most of their companies collapsed. Triggering rise in commodity prices, massive unemployment, and lack of enough food. People took to sectors that were independent in primary sector industries like mining and cash cropping. Forcing women to work in mines and fields and even there was an increase in prostitution in America as their men went to war.
There was greater academic enlighten in America after the second world war as the government took war veterans to colleges and paid their college fees. This helped them to cope up with society. Veterans who had come from war found it hard to cope with the economy which was by now under depression.
Consumer spending drastically improved people used the extra money they got from savings to buy those goods that were rationed during the Great War especially in buying luxury goods like entertainment gadgets and new cars. This improved the lives and the living standards of many especially those who were in the middle class since they were able to get what the wealthy got. The country experienced a successful increase in energy production especially nuclear energy which was generated from atomic energy enabling the establishment of industries that lead to blue and white-collar jobs readily available to citizens causing massive production of cheap materials especially synthetic materials without raw resources.