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The Ending Of The Post War Boom - Online Term Paper

The Ending Of The Post War Boom

World War II had caused the expansion of U.S. industrialization and also it had changed the U.S. corporations into a new global economy scale. The war had brought America in return a huge increase in its prosperity. In the U.S. society, most people believed in that big business and government can do just about everything. The period between 1948 to 1973 had been called the ¡§long boom¡¨ or the ¡§postwar boom¡¨. This period consolidated the United States¡¦ position as the richest country in the world. At the end, the 1973¡¦s oil shock had ended this ¡§long boom¡¨ of economy growth.
The new technologies and new scientific management had caused industrialized businesses increased their ...

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but also the better government policies and new establishments of United Nation agencies should also being credited as the other factors, which caused the economy boom. The policies, such as, the GI bill and reconversion-sells war plants increased American expectations about what big businesses and government can do for their economy. The World Bank, International Monetary Fund, GATT, and the International Trade Organization gave big businesses more freedom and opportunities to trade internationally and helped other countries to stabilize their economy.
In 1944, within the Bretton Woods agreement, the IMF and World Bank were established. These two agencies¡¦ job was to reconstruct the world financial system, which stabilized the world currencies and ensure the reconstruction and development of world economy. In 1947, the General Agreement on Tariff and Trade was established which ensures that fair-trading between nations. Similar to the GATT, the International Trade Organization ...

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The Ending Of The Post War Boom. (2008, May 27). Retrieved April 18, 2024, from http://www.essayworld.com/essays/The-Ending-Of-Post-War-Boom/84276

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PAPER DETAILS

Added: 5/27/2008 12:43:55 AM
Category: Economics
Type: Premium Paper
Words: 1102
Pages: 5

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