The Economy of the Post-World War II Era

Paper Summary:

This paper examines how the post-World War II era was definitely a prosperous time, and the economy grew very strong because of many variables. It looks at how the purchasing frenzy, return of veterans, and general confidence of Americans created a strong economy after World War II. It also discusses how, because of this spurt of economic growth and the economic devastation of the rest of the world, America became the superpower in the world.

From the Paper:

"Americans emerged from World War II thrilled, proud of their military strength and industrial might. As the editors of Fortune magazine said in 1946, "This is a dream era, this is what everyone was waiting throughout the blackouts for. The Great American Boom is on." Therefore, it was and an American public that had known deprivation and sacrifice for the last decade and a half began to enjoy record prosperity. The postwar era enjoyed wonderful economic growth and social satisfaction. The nation's gross national product rose from about $200,000 million in 1940 to $300,000 million in 1950 and to more than $500,000 million in 1960 (Tindall, 1049). At the same time, the jump in postwar births, known as the "baby boom," increased the number of consumers. More and more Americans joined the middle class."

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