The Impact of World War II on the United States Economy

The Impact of World War II on the United States Economy

World War II had a significant impact on the United States economy. By 1943, about two-thirds of the nation’s economy was directly involved in the war effort. This massive mobilization of resources to support the war had both positive and negative effects on the economy.

One of the main ways the U.S. government funded the war effort was through raising taxes and borrowing money. The Revenue Act was introduced to increase tax revenues to finance the war. This act not only helped fund military operations but also had broader implications for the economy.