Assess the impact of World War II on America’s domestic economy. Consi

Assess the impact of World War II on America’s domestic economy. Consider corporations, labor, farmers, and consumers.

What will be an ideal response?

ANSWER
Corporations: high profits, cost-plus contracts, retooling loans, subsidies for construction, support for research and development, suspension of anti-trust prosecutions, government favors big business over small for war contracts.
Labor: union membership grows, unemployment disappears, high wages, long hours, strikes provoke public opinion backlash and anti-labor legislation. Agriculture: government sets high prices, large farms boom. Consumer: rising incomes, high prices, shortages, rationing.