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World War I and the US economy

Following World War I, The United States’ economy could best be described as
For a long time, the American economy was war-oriented; this means that the economic growth of the United States originates from maintaining a war footing. After each of the big wars the United States were involved in, their economy experienced dramatic growth, paired with industrial, technological, and diplomatic progress. In case of the World War I, the United States had a massive increase in industrial production along with stable and reasonable prices for various goods. This could have been a great basis for turning the United States into a truly great country, if only the avarice of bankers did not lead to the Great Crash of 1929; so, instead of the basis for prosperity, the aforementioned boost of industrial production became one of the factors of inflation and crisis.
2 years ago