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: Conversely, many countries in Europe suffered extensive damage to buildings and infrastructure, so the end of the war was a time for intensive rehabilitation. However, the end of the war also marked the beginning of a period of expansive growth for Europe and other nations. For the second half of the 20th century the United States, Europe, and Japan experienced amazing gains. In fact, the European GDP tripled between the end of the war and the year 2000. America used its footing post-war to become a global superpower. 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.