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List the benefits that the First World War brought to the US economy

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Introduction

´╗┐Joana Chagas 10SJB List the benefits that the First World War brought to the US economy: During the economic boom in the 1920?s in the USA, there were many skypscrapers built. Production levels rose, as well as there were new roads built, which in turn created more employment. The stocking industry increased in its production and there were many new aircraft companies, which constrasted with the fact that there were almost no civilian airlines in 1918. Furthermore, urban homes now had access to electricity, although some farms still lacked it. One of the great advantages the the USA already had was that it was rich in natural resources, which is why it did not need to import a lot of materials. ...read more.

Middle

Due to war and Germany?s submarine warfare, the Allies supplies from its colonies was reduced. The US replaced this gap in trade. Because of the devastation in Germany, the USA took the lead in terms of chemical developments. The explosive industry, as well as the plastic industry improved. This was the time of the USA?s second industrial revolution, which was helped by the war. The US also lent credit to UK and France, becoming the world?s largest creditor, which was Britain pre-war. In relatin to the economy, although the USA lost some money but by 1922 the economy has already stabilized and was growing once more. American companies grew even faster since there were high import tariffs, which is why there was less foreign competitions. ...read more.

Conclusion

In 1921 there were 11.9 million people unemployed in the US, whilst later on in 1929, unemployment went down to 5.2 million people. This shows that the increase in industrial production meant that more workers were needed and although their wages may have gone down, a lot more people were employed. How could critics of Republican policies use Sources 11 and 13 to attack the Republicans? Critics of Republican policies could use Source 11 against the Republicans since the average annual industrial wages decreased by over $200, which shows that the people employed earned less although the production and profit of each company was increasing. Furthermore, since there were many millionaires, this shows that all the profit went to higher class memebers of society, whilst lower class citizens which worked hard had their wages decreased. This was quite unfair and could be used to attack the Republicans. ...read more.

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