World War One s Impact On American Economics - 1589 Words

World War 1’s Impact on American Economics By Chris Danielson History 104, Fall 2015 University of North Dakota As a student studying business, I like to look at significant events in US history and the impact they had on business in America. In addition to business, I have always been interested in wars and America’s involvement in those wars. When we started discussing World War 1 in class, it peaked my interest. Not only did we discuss the war, but we also looked at the impact it had on American business. At that point, I knew that I had the topic for my term paper. In this paper, I will discuss the impact the Civil War had on American economics, and how it rebounded after the war. I will also discuss the time periods known as the â€Å"Gilded Age† and the â€Å"Progressive Age†. To end the paper, I will look at World War 1. By looking at each of these different events, I hope to paint you a picture of what the economic standing of America looked like before, during, and after the events that led to and then through America’s involvement in World War 1. The 1800s was a very volatile time. The impact the Civil War had on America’s economy was great. In 1865, the national debt stood at $2.7 billion (Folsom). Just the annual interest on that debt was more than twice America’s national budget in 1860 (Folsom). The Civil War debt was almost twice what the American federal government spent before 1860 (Folsom). Although the Civil War hurt the economy, America’s economic growthShow MoreRelatedUsing the four passages and your own knowledge, assess the view that the impact of the First World War was the main reason for the booming economy in the USA in the 1920’s1661 Words   |  7 Pagesassess the view that the impact of the First World War was the main reason for the booming economy in the USA in the 1920’s (40 Marks) I believe that the First World War did not have as much of a significant impact on the American economy as mass production, infact i however see that instead of benefiting the economy the War in fact had the reverse effect to that of which interpretation A and C suggest that the war was the most important factor of the 1920’s American economic boom. 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