Blog Post #7

In “A History of the United States in Five Crashes,” author Scott Nations explains the five large crashes in the U.S. up until this point, and how they affected the nation. In 1907, the market crashed for one of the first times. There was a Panic of 1907, causing for chaos in the banks and many people believed an issue was the lack of a central bank in the United States. The Federal Reserve System was created because of this crash.

In “The Economics of World War 1,” the article discusses the economy of the United States at the time of the first World War, and how it economically affected the nation after it was over. He shares that the total cost of the war for the United States was about $32 billion. This was over half of the nation’s gross nation product. Before the war, the country was in a recession. But during the war, between 1914 and 1918, there was a boom, often what can come from wartimes. Before the U.S. entered the war, the nation maintained neutrality and many Europeans bought U.S. goods during the war. Once the country entered the war, unemployment declined massively due to all of the new manufacturing jobs and the loss of many men from the workforce in the draft. He concludes that the greatest impact that the war had on America was the lasting ideals that it put in the country, on economics and other political options.

In “DuPont’s Advertising Director Describes the Impact of World War 1,” we learn even more about World War 1 and the impact it had on the nation. This time we learn more about the advertising and business side of the issue rather than the economic side. The war had an effect on advertising because it took away many advertising opportunities, but it also added many such as the need for propaganda and other wartime needs. The war also turned advertising more patriotic, making every business realize that they are an American business and there is a big picture to it all.