The early American year’s show the country as one in which most of all the political leaders and so governments were very reluctant and of less or no concern in involving the federal government too much and heavily in the societal economic issues, with very little federal government involvement witnessed in the private sector. The country accepted ad ran on the laissez-faire doctrine which advocates for less autocratism and opposes any government involvement and interference in the social and economic issues except only in maintaining laws and order. However, the World War II saw a lot of increase in the involvement and roles of the government in the American society and the economy of the nation at large Matson & Gillon, 2012).
The American nation greatly feared that the end World War II end and subsequently the drop in the government expenditure in military could take the nation back to the bad times of Great Depression. However, it was the opposite of it as pent-up demand by consumers exceptional fueled a very strong growth in the economy after the World War II. As the World War II curtain descended, the United States of America got engaged in cold war with the Soviet Union thus making the government want maintain a substantial capacity of military and fighting hence investing in the production of fabrication and manufacture of sophisticated weapons (Dautrich & Yalof, 2011).
The need to stage a strong war and military capacity made the government get more involved with the economy of the nation and the general societal affairs at large. The government flowed lots of economic help to European-war-affected areas and greatly helped in maintaining markets for most United States products. The government had well recognized its pivotal role in societal and economic affairs and came up with an Employment Act of 1946 to “promote maximum employment, production, and purchasing power”. Courtesy of the World War II, the United States of America made a discovery that there was a need to “restructure international monetary arrangements, spearheading the creation of the International Monetary Fund and the World Bank” which are institutions solely meant to make sure an open, capitalist international economy” (Matson & Gillon, 2012).
After the World War II, Business too had entered the consolidation period as firms and companies merged in order to create more diversified and huge conglomerates. This called for some government hand and involvement to help control and govern the operation of such consolidated businesses. Significantly, the World War II and too the Great Depression resulted and contributed to the vital economic event ever in the 20th century. The federal government emerged from the war with great economic concern and as a major potent actor of economy, gaining the ability to control and regulate the economy through policies, consumption and spending (Dautrich & Yalof, 2011).
The entry into World War II was a quick end to the Great Depression unlike the many years of New Deal Programs. For one, the Great Depression was the main cause of the World War II. Therefore, ending the World War II would significant and decisively end the cause, the Great Depression. The American industry, for instance the auto-craft industry, and production was greatly revitalized by the war. The war too led to the private sector getting involved with the government. In addition, the war led to organized labor movements, which gained more strength during the war and ensured a counterbalance between the private sector and the government. This meant high production and sophistication and thus a quicker means to ending the great depression (Matson & Gillon, 2012).
The World War II was characterized by great innovation and very rapid technological and scientific discoveries thus creation permanent innovative trends which quickly contributed to the end of the Great Depression. With growth in innovation and creativity, there was substantial increase in employment, personal income and the quality and standards of living went high for many citizens could afford a run of their life smoothly. The United States almost went and survived the war unscathed, and thus enjoyed economic and political power unprecedented, thus growth in economy and trade, and consequently a faster means to the Great depression courtesy of the World War II owing to its monopoly since the other nations were destroyed by the war. Private capital, which is the secret of economic growth and development, had a place to be invested for profits thus an economic boom spelling end to the Great Depression (Dautrich & Yalof, 2011).
