That WWII ended the Great Depression is one of the most persistent and inaccurate myths in American history.
The decline in economic output occured from 1930 to 1933. By 1936 we had recovered to the same level of economic activity as 1929.
We had a *mild* recession in '38 following this recovery when Federal spending was cut back sharply.
WWII had profound impacts on our economy in the late 40s through 60s. It created a pool of savings and benefits -- from war bonds to GI Bill benefits -- that wasn't spent until after the war. It left us with an expanded and efficient industrial capacity when Europe & Japan had to rebuild their industries.
Between lack of money and fear in the 1930s and the forced rationing of WWII, we had a very large pent up demand for houses, cars, appliances, etc -- along with the savings to buy them, the confidence to loan money when savings wasn't enough, and industry ready to meet the demand.
Without WWII, I don't think we would've enjoyed the amazing degree of prosperity we did in the 50s & 60s; but at the same time we would not have been still stuck in a depressed funk had it not happened.
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