I just can’t understand how the Golden Age in USA emerged after the World War 2. Although they “won” the war, they spent billions of dollars on their military and on the Marshall plan to assist and to restore the economic infrastructure of many countries in Europe.
EDIT: There are some comments mentioning that the USA didn’t get bombed during the WW2. I know that, but USA has never gotten bombed. Why did it happen right after the WW2 and not later?
In: Economics
The GI Bill and unions played a large part in the economic expansion of the US. Education has (I think?) the highest long-term ROI of any kind of government spending. More returning soldiers went to college than would have without the GI Bill, and many others joined unions. This greatly expanded wealth for the middle class (remember that?) as well as the tax base for the US, which made large infrastructure projects possible. Large infrastructure projects meant high demand for labor, which drove up wages, which helped the middle class grow…
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