World War II and International Effects
International Effects and World War II
By: Anna Baryian
The Great Depression was a very dark period in which the world was going through hardships. Thereafter, the World War II brought upon more commotion but actually gave a positive notion toward the Great Depression. Throughout my paper, I will mention the history of the Great Depression, its international effects, along with the effect of World War II.
The Great Depression started when the US stock market collapsed on October 29, 1929; this day is also known as Black Tuesday. But before this date, it was struck up from the United States. This was the beginning of a very severe economic depression that affected many countries whether they were considered rich or poor. International trade fell by 50%, and unemployment in the US plunged by 25% while in other countries went as high as 33%. Prices and profits through many countries dropped. [1]Hence, this was the longest and darkest worldwide economic depression. But this was brought to an end with the America’s entry to the World War II.
The biggest industrial fail was in the agriculture department. The farmers' problem was that the demand for crop production fell during the Great Depression.[2] There were too much of each crop such as corn, wheat, cotton, etc., being grown. This resulted in the farmers having debt because most of them worked on farms that they did not own.[3] By having to pay their landlord for the amount of land given, without any profit being made, they had fallen into extreme debt.
Though Congress attempted to help revive industry and labor through rational planning with the National Recovery Administration, the success was limited and temporary. It did eliminate child labor and solidified the federal regulation of minimum wages and maximum hours, but these did not qualify with the amount of labor being put into some departments such as farm workers and large occupational groups.
In December, 1941, the Japanese bombing of Pearl Harbor occurred which created the start of America’s entry to the Second World War. With the preparation for World War II, United States was cured. There were many ways in which this cure took place. The most important was employment. There were over 17 million new jobs available during war.[4] With this, anyone who wanted a job, could get one. This is one of the many ways that the Great War was uplifted through World War II. Men and women began joining the armed forces by serving overseas in support of their homeland, America. Even those at home were doing the best they could to help support the war struggle.
With the variety of new job openings, more than 17 million new jobs were available during the war. With these opportunities, workers were able to support their family, pay off old debts, and begin saving. This way, the unemployment rates decreased from 25% to 10%. The jobs that were offered to women were military, aircraft manufacturing and munition plant factories. There were also rationing programs available in which recycling metal began popular. This led to helping those in war with “war bonds” sold by the U.S. government in raising funds for those participating in the armed forces.[5]
The effects that the Great Depression had in an international perspective were severe as well. International trade was not doing as well due to each country trying to protect their industries by raising tariffs on imported goods.[6] There were about thirty million people unemployed around the world. One of the many responses to the Depression was welfare capitalism, which had the country's government assume responsibility of a fair distribution of wealth and power for providing security against risks of bankruptcy and unemployment.
All in all, America’s entry into the World War II helped the Great Depression in a positive way. Though it was another dark period in history, it helped bring upon employment among the families who were in need.
Bibliography
Bernhardt, Rachel. "The Great Depression and World War II (1929-1945)." American History.
October 10, 2013. Accessed April 13, 2015.
Carden, Art. "The Great Depression and World War II." Freeman 59, no. 5 (06, 2009): 18-20.
Horwitz, Steven, and Michael J McPhillips. 2013. The Reality of the Wartime Economy: More
Historical Evidence on Whether World War II Ended the Great Depression. The
Independent Review. 17, no. 3: 325-347.
Hyman, Louis. "How Did World War II End the Great Depression?: Echoes." Bloomberg.com.
December 16, 2011. Accessed April 3, 2015.
Raymond, Jay. "World War Two - American Memory Timeline- Classroom Presentation |
Teacher Resources - Library of Congress." Library of Congress. July 13, 2012. Accessed
April 1, 2015.
Richard, Fulmer. "The Freeman." World War II Ended the Great Depression?: Foundation for
Economic Education. October 23, 2009. Accessed April 1, 2015.
"The Great Depression in a Global Perspective." Digital History. November 10, 2014. Accessed
April 3, 2015.
By: Anna Baryian
The Great Depression was a very dark period in which the world was going through hardships. Thereafter, the World War II brought upon more commotion but actually gave a positive notion toward the Great Depression. Throughout my paper, I will mention the history of the Great Depression, its international effects, along with the effect of World War II.
The Great Depression started when the US stock market collapsed on October 29, 1929; this day is also known as Black Tuesday. But before this date, it was struck up from the United States. This was the beginning of a very severe economic depression that affected many countries whether they were considered rich or poor. International trade fell by 50%, and unemployment in the US plunged by 25% while in other countries went as high as 33%. Prices and profits through many countries dropped. [1]Hence, this was the longest and darkest worldwide economic depression. But this was brought to an end with the America’s entry to the World War II.
The biggest industrial fail was in the agriculture department. The farmers' problem was that the demand for crop production fell during the Great Depression.[2] There were too much of each crop such as corn, wheat, cotton, etc., being grown. This resulted in the farmers having debt because most of them worked on farms that they did not own.[3] By having to pay their landlord for the amount of land given, without any profit being made, they had fallen into extreme debt.
Though Congress attempted to help revive industry and labor through rational planning with the National Recovery Administration, the success was limited and temporary. It did eliminate child labor and solidified the federal regulation of minimum wages and maximum hours, but these did not qualify with the amount of labor being put into some departments such as farm workers and large occupational groups.
In December, 1941, the Japanese bombing of Pearl Harbor occurred which created the start of America’s entry to the Second World War. With the preparation for World War II, United States was cured. There were many ways in which this cure took place. The most important was employment. There were over 17 million new jobs available during war.[4] With this, anyone who wanted a job, could get one. This is one of the many ways that the Great War was uplifted through World War II. Men and women began joining the armed forces by serving overseas in support of their homeland, America. Even those at home were doing the best they could to help support the war struggle.
With the variety of new job openings, more than 17 million new jobs were available during the war. With these opportunities, workers were able to support their family, pay off old debts, and begin saving. This way, the unemployment rates decreased from 25% to 10%. The jobs that were offered to women were military, aircraft manufacturing and munition plant factories. There were also rationing programs available in which recycling metal began popular. This led to helping those in war with “war bonds” sold by the U.S. government in raising funds for those participating in the armed forces.[5]
The effects that the Great Depression had in an international perspective were severe as well. International trade was not doing as well due to each country trying to protect their industries by raising tariffs on imported goods.[6] There were about thirty million people unemployed around the world. One of the many responses to the Depression was welfare capitalism, which had the country's government assume responsibility of a fair distribution of wealth and power for providing security against risks of bankruptcy and unemployment.
All in all, America’s entry into the World War II helped the Great Depression in a positive way. Though it was another dark period in history, it helped bring upon employment among the families who were in need.
Bibliography
Bernhardt, Rachel. "The Great Depression and World War II (1929-1945)." American History.
October 10, 2013. Accessed April 13, 2015.
Carden, Art. "The Great Depression and World War II." Freeman 59, no. 5 (06, 2009): 18-20.
Horwitz, Steven, and Michael J McPhillips. 2013. The Reality of the Wartime Economy: More
Historical Evidence on Whether World War II Ended the Great Depression. The
Independent Review. 17, no. 3: 325-347.
Hyman, Louis. "How Did World War II End the Great Depression?: Echoes." Bloomberg.com.
December 16, 2011. Accessed April 3, 2015.
Raymond, Jay. "World War Two - American Memory Timeline- Classroom Presentation |
Teacher Resources - Library of Congress." Library of Congress. July 13, 2012. Accessed
April 1, 2015.
Richard, Fulmer. "The Freeman." World War II Ended the Great Depression?: Foundation for
Economic Education. October 23, 2009. Accessed April 1, 2015.
"The Great Depression in a Global Perspective." Digital History. November 10, 2014. Accessed
April 3, 2015.