World War 1 had several positive and several negative effects on society as well as the American economy and way of life for average citizens. First, there was a great economic boom during the years of the war, followed by a severe postwar recession. Manufacturers of weapons and farmers especially prospered as they were directly involved with supplying the soldiers off at war. Also, as manufacturers were needed in greater numbers, unemployment rates fell drastically, subsequently improving the quality of life for many Americans. At the same time, the United States acted as a bank, lending cash and goods to its allies at war, further boosting the economy. However, after the war, European countries were once again able to provide food and basic necessities for themselves, leaving several Americans unemployed. Inflation increased and unemployment rates went up by 10 percent. The main fields to suffer from economic hits were the agricultural, textile, and coal industries as they failed to regulate themselves, leaving their workers in the bottom 40 percent, income-wise, of all Americans. Along with an economic impact, the First World War had social consequences. For example, the draft was initiated when European allies requested for men to help fight in the war. Men from the United States above a certain age were required to enlist in the war, no matter their living
World War 1 had several positive and several negative effects on society as well as the American economy and way of life for average citizens. First, there was a great economic boom during the years of the war, followed by a severe postwar recession. Manufacturers of weapons and farmers especially prospered as they were directly involved with supplying the soldiers off at war. Also, as manufacturers were needed in greater numbers, unemployment rates fell drastically, subsequently improving the quality of life for many Americans. At the same time, the United States acted as a bank, lending cash and goods to its allies at war, further boosting the economy. However, after the war, European countries were once again able to provide food and basic necessities for themselves, leaving several Americans unemployed. Inflation increased and unemployment rates went up by 10 percent. The main fields to suffer from economic hits were the agricultural, textile, and coal industries as they failed to regulate themselves, leaving their workers in the bottom 40 percent, income-wise, of all Americans. Along with an economic impact, the First World War had social consequences. For example, the draft was initiated when European allies requested for men to help fight in the war. Men from the United States above a certain age were required to enlist in the war, no matter their living