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How Did The Vietnam War Affect The Economy

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Furthermore, in tandem with the social effects, World War II and the Vietnam War had contrasting effects on the United States economy. Prior to World War II, the United States was experiencing the Great Depression, a period of extreme unemployment and poverty due to the stock market crash of 1929. During the 1930s, President Franklin D. Roosevelt instituted a series of programs called the “New Deal”, which attempted to provide relief for Americans and fix the economy. Though his programs did provide some relief and created many new jobs for Americans, it did not solve the economic problems of the Great Depression. In actuality, World War II helped the American economy in ways that President Roosevelt could not achieve with the New Deal. Whereas …show more content…

In regards to the social aspects of the American home front, World War II helped bring about major changes for women and African Americans. As men left to fight in the war, positions in manufacturing and industry were filled by women and African Americans, leading to more opportunities for these discriminated groups and providing a first step towards the fight for greater equality. However, during the Vietnam War, antiwar sentiment spread across the nation, often taking the form of protests and marches. Often, these ended in violence and conflict, demonstrating the tensions of the time. In addition, political and military failures caused mistrust in the government by the American people, and Americans today still debate the morals of the war. Moreover, the United States economy was also impacted by World War II and the Vietnam War. Prior to engagement in World War II, the United States was suffering from the Great Depression, causing widespread poverty and unemployment. However, World War II created new jobs and an increased need for manufactured goods, dropping the unemployment rate from 25% to 10%. In addition, the G.I. Bill helped veterans receive an education; with this education came a new demand for jobs and increased revenue from taxes, making the G.I. Bill extremely profitable for the United States. In contrast, the Vietnam war had major consequences on the American economy. In order to finance the war and finance domestic programs, deficit spending was used, greatly damaging the economy. As an effect, inflation rose dramatically and the standard of living dropped, severely hurting the American people. Whereas World War II boosted the economy, the Vietnam war

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