Did the Second World War save the American economy from the crisis of 1929?

Question

Bluemax · Accepted Answer

Yes, it did. America was still very much in the depression in 1939. Even prior to our entrance into the war, for two years the war in Europe was starting to turn the economy around for us. Unemployment was still bad when all of the sudden factories had to work round the clock.

After the war, the American economy continued to boom due to the fact that we were a major power that emerged from WW II largely intact in terms of not having our cities and factories destroyed.

My native state of California was particularly blessed during the wartime economic boom as we were the hub of three major wartime industries, food production, aircraft production, and ship building. Workers flocked to California during and after the war, causing real estate booms particularly in my native Los Angeles and nearby San Diego.

There can be no doubt it was a major contribution to the American economy.

OlderAndWiser · Accepted Answer

Yes, indeed! The "New Deal" made some inroads on the loss of jobs, but the depression was still going strong until the war started.

DaisyM23 · Accepted Answer

I don't really know much about the connection, but the peak years for the depression were 1932/33 so I think they were mostly out of it by the time they joined the war in 1941 - of course, I'm generalizing since a lot of people were still struggling, but the New Deal did play an important role?

Anonymous · Accepted Answer

No. But it did set up the US as the world's leading power.

exitseven · Answer

It has been written that a lot of out of work Americans suddenly found good jobs in factories making armaments once the US got into the war. I guess it helped the country in that way.

penteractgaming · Answer

The rest of the planet being bombed into the ground left the US's virtually pristine economy in a good position. i. e. having no real competition benefitted the US but not the world as a whole.

abc3643 · Answer

Partly, it did, but The Great Depression was already ending by the time WW II happened.

Jltakk · Answer

Both World Wars were the shadiest events in world history. especially on the American side. Both President Wilson and FDR have started some horrible government programs that haunt the populace to this very day.

slatyb · Answer

It did not. The economy was already recovering when the war started.

ArtemisSilver · Answer

Distracted from and put off more like. But there's no escaping the evils of central banking and inflationary fiat.

Exterminatore · Answer

That bad that we pretty much were the only country left with a functioning economy when it was all over.

NYCQuestions1976 · Answer

The Allies winning World War II saved the world, period.

888theGreat · Answer

yep, it wasn't FDR's socialist programs , it was the war and then we got Reserve Currency status which made the dollar king.

Jay3344 · Answer

No, the US had a full decade of recovery before the Second World War.

fireforeffect · Answer

Absolutely!! It took 16 Million Americans off of the bread line and put them in Uniform. It gave everyone else a job producing War material.

Anonymous · Answer

It may have since it creates new jobs during war

SignedAutographs · Answer

Yeah

BLP11520 · Answer

Yes it did.

jimmy2 · Answer

War makes money

Did the Second World War save the American economy from the crisis of 1929?

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