The Post-war Economy Assignment
The end of World War 2 saw the United States of America experience significant financial progress. The financial development was prompted by diverse elements such as the development of the vehicle industry, housing success inspired by easily accessible and affordable mortgages and industrial growth.The Post-war Economy Assignment
The growth of the automobile industry in post-war America led to an economic revolution. For instance, road construction led to the creation of a lot of opportunities as local authorities began financing road designs. For instance, demand for fuel led to the eruption of gas stations which created a lot of job opportunities for the American people (COLLINS 156). Besides, mobility was made easier as people were able to explore different parts of the country. For instance, rural communities were able to shop in urban areas easily. As a result, people’s standards of living were improved significantly.
The housing prosperity which was inspired by easily available and affordable mortgages also led to economic growth in post-war America. A lot of housing units in the country were built due to the high demand for housing as a result of available mortgages. Construction of these housing units created lot of job opportunities to millions of Americans. For instance, those selling construction materials, builders and sellers of household appliances gained a lot of income. As a result, people’s standards of living were improved which had a positive impact on the general economy of the country.
Post-war America saw the growth of a lot of industries in the United States which improved the country’s economy significantly. For instance, the growth of the hotel industry, telephone and telegram industry, and the banking industry had a great impact on the economy (Higgs 18). Due to the employment opportunities created and income gained as a result of the sale of the goods and services, living standards of the people were improved and the poverty rate reduced substantially.The Post-war Economy Assignment
In conclusion, the post-war error saw the United States of America experience tremendous economic growth. This is attributed to the growth of the automobile industry, housing prosperity due to easily accessible and affordable mortgages and industrial growth in the country.
COLLINS, ROBERT M. “The Politics of Economic Growth in Postwar America.” The Oxford University Press (2000): 1-314.
Higgs, Robert. “Government and the Economy since World War II.” The Indepedent Institute (2005): 1-35.The Post-war Economy Assignment