From the time World War One ended, there have been a number of historians who have come up to explain the reason why the United States entered the war and the general effects of the war. This paper explores the economic effects experienced domestically due to the American mobilization for the First World War.
According to Rockoff (2012), World War1 One created a thriving economy for the Americans since there was an emergence of trade with other nations. In addition to the booming trade, various industries were set up to provide weaponry and machinery for mobilization of the war. These industries created numerous employment prospects for men and women, therefore, increasing the income of American households. The opportunities that enabled the American businesses to move into the market were presented as a result of World War 1. The Americans position in the world economy shifted upwards due to the increase in the number of exports (Rockoff, 2012). The maritime superiority of the USA enabled ships to export goods overseas and this resulted in the USA becoming a major creditor of the world. The vigor and the size of the American domestic market, on the other hand, was an luring attraction to the businessmen and women in America.
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The mobilization of the American economy to support World War One led to the establishment of a thriving economy that was fueled by the purchases due to the war bond and the taxpayer’s dollars. The recession after World War One was a result of Americans disproportionately employing profits from the war to expand their home economy (Rockoff, 2012). Therefore some of the factors that resulted in propelling America to an economic powerhouse were as a result of World War One.
References
Rockoff, H. (2012). America's economic way of war: War and the US economy from the Spanish ‐ American War to the Persian Gulf War . New York: Cambridge University Press.
