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Germany increases military funding
Under the rule of Chancellor Adolf Hitler, Germany created an economy based around the German military. This sudden incline of military funding also worried other countries and created early World War II tensions. -
World War II begins
Germany, under the rule of Hilter and the Nazi Party, invade Poland. -
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U.S. Employment
Many jobs were created this time which helped lift many Americans out of the unemployment the Great Depression left behind. Also, because men were fighting in the war, many women were able to step in and have jobs that were previously perceived as not suitable for a woman. -
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U.S. rations
The U.S. was spending their government funding on primary government funding, and many factories were used to provide soldiers with clothing, food, and other necessities. American citizens substitute their everyday items and shopped frugally through this period to help the soldiers. -
German War Debt
The Potsdam agreement, concluded in August of 1945, demanded 23 billion dollars in reparations to the allied forces. -
New Technology
This time of frugality in the United lead to unexpected technological advances, these include radio navigation and landing,
penicillin, synthetic rubber, oil, radar
V-2, jet engines, nuclear power, and computers. -
Post World War II Economy
While lots of Europe suffered from structural rehabilitation, there was many positives of the post WW2 economy. United States, Europe, and Japan experienced amazing gains. The European GDP tripled between the end of the war and the year 2000. America used its technological advantages and newly growing economy post-war to become a global superpower. -
End of World War II
Many European and Asian countries were economically destroyed by WW2 and lead to periods of high unemployment and low nationalisms. The U.S., however, emerged as an economic and world power. -
Cold War begins
The Cold War marked the beginning to a war that would be almost purely economic and deeply cost both nations, with events including the space race and building nuclear weapons.