USA HISTORY

Detailed explanation-1: -Wartime production had helped pull America’s economy out of depression, and from the late 1940s on, young adults saw a remarkable rise in their spending power. Jobs were plentiful, wages were higher, and because of the lack of consumer goods during the war, Americans were eager to spend.

Detailed explanation-2: -American industry provided almost two-thirds of all the Allied military equipment produced during the war: 297, 000 aircraft, 193, 000 artillery pieces, 86, 000 tanks and two million army trucks. In four years, American industrial production, already the world’s largest, doubled in size.

Detailed explanation-3: -Factories were converted to the production of military items such as tanks, rifles, ammunition, airplanes and ships. People on the “Home Front” were encouraged to conserve energy, to plant “Victory Gardens” and to buy war bonds.

Detailed explanation-4: -Putting aside the very real human cost, war has also serious economic costs – damage to infrastructure, a decline in the working population, inflation, shortages, uncertainty, a rise in debt and disruption to normal economic activity.