Title: How Much Did The Vietnam War Cost? - The Vietnam War
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How Much Did The Vietnam War Cost?
Human Cost
Economic Cost
Political and Social Cost
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Content: During the Vietnam war, in order to meet its required war efforts, factories in the U.S. which used to produce consumer goods were now converted to produce military equipment. This change caused a plunge in shopping rates, thus hurting the economy. Military fund spent overseas also led to budget deficits which caused a weaker dollar, galloping inflation and increasing interest rates. Owing to the Vietnam War, American economy was brought down from its growth in early 1960s to an economic crisis in 1970s. Political and Social Cost
The United States paid a high political cost for the Vietnam War. Large-scale anti-war movements around the country caused a great rift within American society. Likewise, the leak of Pentagon Papers and the Watergate scandal critically damaged the government credibility. Americans people now kept a deep suspicion and distrust of their government. The failure in Vietnam not only questioned the U.S. superiority as the world defender of freedom and justice but also impacted greatly on its domestic affairs. Many years after the war, American public still biased against any kind of American conflicts for the fear of “another Vietnam” while its government cautiously implemented a “less interventionist” foreign policy as a result of the so-called “Vietnam Syndrome” which continued until a swift victory over Iraq in the Gulf War in 1991 – fifteen long years since the fall of Saigon.