Title: The Basic Economic Effects World War II Had on the Global Economy
Headings: The Basic Economic Effects World War II Had on the Global Economy
The Basic Economic Effects World War II Had on the Global Economy
Key Takeaways
A Quick Overview of GDP
Post-War Economies
How It Happened

Content: How It Happened
One of the theories behind what allowed such prolific growth in a region ravaged by war is that the end of World War II and the instability of the previous decades presented Europe the opportunity for catch-up growth. Since the years between World War I and World War II were rife with global economic instability, Europe had not had time to implement many of the advancements pioneered in the U.S. and elsewhere. As terrible as war is, it does tend to produce new technology that can later be used for civilian gain. Where Americans were developing new technologies such as nylon and Teflon, and making important advancements in areas such as the automotive industry, many Europeans were still heating their homes with coal. Basically, the non-stop turmoil of the pre-war years left little time for advancement on the continent. However, once the war ended, all these new technologies and advancements in business and industry became available to economies newly able and ready to embrace them. People who worked in wartime as soldiers and nurses now needed jobs, and American advancement during the preceding years provided the perfect blueprint for how to use this newly available workforce. This and other factors contributed to an upswing in the GDP of Europe that persisted well into the 1970s.