How did the cold war contribute to econmic growth in the united states

adventure of the United States. American companies were boosted with the transfer of military technologies and with the opening of the European market in the reconstruction of the continent due to the WWII. From then on, the basic recipe was to encourage private enterprise (helping entrepreneurs who wanted to open their own business, for example) and ensure that the government would get little in the economy (the market, by the law of supply and demand, would regulate the rise -and economic decline).

The fear of the spread of communism around the world led the US to engage in various military conflicts. Simultaneously, the Kennedy administration began to develop nuclear weapons to overcome Soviet nuclear forces. With this, he obtained more investments for the arms race and fomenting the economy of the country

Explanation:

cold war contributed to transfer of military technologies as well as it Brought US opening in the European market and more investments for the arms race.  

Further Explanation:-

As the period of cold war came to close, The economy of United States experienced rapid economic growth. The prosperity came back in United States after world-war 2 as they won the war and after post war period United States further consolidated its position which was as the world’s most richest country. The measure with regards to all products which were produced in United States was around 200 thousand million dollars in year 1940 which skyrocketed to 300 thousand million dollars in 1950 and 500 thousand million dollars by year 1960. Massive economic shift was seen in United States during that period as during the period of 1940’s, People belonged to lower middle class were more in United State whereas there were more people who belonged to Middle Class category by year 1960. Automobile Industry recorded most growth during this period as the production almost tripled from 1946 to 1955. The rise in United States defense expenditure post cold war also played its pivotal role in the economical increase.  

Grade – High School

Subject – History

Chapter – Economic Growth

Keywords-Cold War, Economic Growth, Economy, Industry, Automobile, Increase, Dollars, Richest Country, United States, Production.

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