The Economy in the Second World War

What happened to the American economy during the Second World War?

Although the USA did not officially join the war until 1941, the Second World War had a huge impact on the economy.

What was Lend-Lease in the Second World War economy?

In 1941, America agreed to a Lend Lease programme with Britain. This meant that America would 'lend' Britain around $7,000 million worth of weapons. It was unlikely that Britain would ever be able to repay this.

How did the Second World War economy increase weapon production?

In 1942 the War Production Board was created, to convert industries from peacetime work to war work. For example, car companies began to build tanks.

How did the economy of the Second World War affect unemployment?

In 1939 there were around 9.5 million unemployed. By 1944, unemployment was just 670,000.