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United States World War II GDP (compared to other countries)

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The United States had the highest amount of gross domestic product out of a total of six empires during World War II, including the British empire, French empire, the Soviet Union, the German Reich, Italian empire, and finally the Japanese empire. Through the years of 1938 and 1945 each year you can see a rise in GDP of almost double the amount of other countries. Most stats were measured in the 800s through thousands, while other empires only had numbers ranging from 200-400.


Gross domestic product[1] GDP provides insight into the relative strength of the belligerents in the run up to, and during the conflict.

Gross domestic product[nb 1][2][3]
Country 1938 1939 1940 1941 1942 1943 1944 1945
United Kingdom 284 287 316 344 353 361 346 331
Dominions 115
Colonies 285
British Empire 684 687 716 744 753 761 746 731
France 186 199 82 130 116 110 93 101
Colonies 49
French Empire 235 248 131 179 165 159 142 150
Soviet Union 359 366 417 359 274 305 362 343
Occupied
Soviet Union Total 359 366 417 359 274 305 362 343
United States 800 869 943 1094 1235 1399 1499 1474
Colonies 24
United States Total 824 893 968 1118 1259 1423 1523 1498
German Reich 351 384 387 412 417 426 437 310
Occupied 77 430 733 733 430 244
German Reich Total 351 461 817 1145 1150 856 681 310
Italy 141 151 147 144 145 137 117 92
Colonies 3
Occupied 20 20 20 20
Italian Empire 144 154 170 167 168 160 140 115
Japan 169 184 192 196 197 194 189 144
Colonies 63
Occupied
Japanese Empire 232 247 255 259 260 257 252 207
Romania 24
Hungary 24
Bulgaria 10
Albania 1

Romanian, Hungarian, Bulgarian and Albanian GDP calculated by multiplying the GDP per capita of the four countries in 1938 ($1,242 for Romania, $2,655 for Hungary, $1,595 for Bulgaria and over $900 for Albania)[4] by their estimated populations in 1938: 19,750,000 for Romania,[5] 9,082,400 for Hungary,[6] 6,380,000 for Bulgaria[7] and 1,040,400 for Albania.[8]

  1. ^ Billions of international dollars, at 1990 prices. Adjusted annually for changing compositions within each alliance.

Table notes

  1. France to Axis: 1940:50% (light green), 1941-44:100% (brown)
  2. USSR to Allies: 1941:44% (light green), 1942-1945:100%.
  3. US direct support to the Allies begins with Lend Lease in March 1941, though the US made it possible for the Allies to purchase US-produced materiel from 1939[9]
  4. Italy to Allies and Axis: 1938:0%, 1939-1943:100% Axis (brown), 1944-1945:100% Allies
  5. Japanese to Axis begins with Tripartite Pact in 1940
  6. The Allied and Axis totals are not the immediate sum of the table values; see the distribution rules[clarification needed] used above.


This table shows the positive relationship between the percentage of federal spending and the percentage of GDP. The higher the percentage of federal spending results in higher GDP percentages. These are the statistics from 1940, just the beginning of the war. By the end of World War II federal spending almost tripled while percentages of GDP increased as well, according to Louis Johnston and Samuel H Williamson from the Economic History Association. [10]


Nominal GDP Federal Spending Defense Spending Year total $ % increase total $ % increase % of GDP total $ % increase % of GDP % of federal spending 1940 101.4 9.47 9.34% 1.66 1.64% 17.53% 1941 120.67 19.00% 13.00 37.28% 10.77% 6.13 269.28% 5.08% 47.15% 1942 139.06 15.24% 30.18 132.15% 21.70% 22.05 259.71% 15.86% 73.06% 1943 136.44 -1.88% 63.57 110.64% 46.59% 43.98 99.46% 32.23% 69.18% 1944 174.84 28.14% 72.62 14.24% 41.54% 62.95 43.13% 36.00% 86.68% 1945 173.52 -0.75% 72.11 -0.70% 41.56% 64.53 2.51% 37.19% 89.49%


GDP

  • GDP is important for measuring how well a countries economy is doing. Looking at federal government spending, consumer supply and demand helps determine this percentage as well.

GDP during World War II

  • Debt and higher taxes led to GDP growth percentages over 17%. This trend continued throughout the war and stopped increasing after the war ended. For the United States, government spending was used as a positive indicator of GDP growth. However the high rates of government only was beneficial for a short period of time, a trend that can be seen in most wars.[11]
  • Before World War II government spending in 1941 represented 30% of GDP, or about $408 billion dollars. in 1944 at the peak of World War II, government spending had risen to over $1.6 trillion about 79% of the GDP. During this three year period the total GDP represented by government spending rose 394%.[12]

[13] Unemployment During World War II

  • During World War II Unemployment by 1945 had fallen to 1.9% from 14.6% in 1940. 20% of the population during the the war was employed within the armed forces.[14]

Price of War 

Many concerns and political influence come from the price of war. While GDP can easily increase Federal expenditures, it also can influence political elections and government decision making. No matter how much percentages of GDP increase or decrease we need higher amounts of GDP in order to pay for more investments, one of those investments being more wars. To pay for these wars, taxes are held at a very high rate. For example, by the end of World War II tax rates went from 1.5% to 15%. Along with tax percentages reaching high amounts, spending on non-defense programs were cut in half during the period of World War II. Tax cuts allow one to see GDP in effect for the average American. Still, almost ten years after World War II, in 1950 and 1951 congress raised taxes close to 4% in order to pay for the Korean War. After the Korean War, in 1968 taxes again were raised 10% to pay for the Vietnam War. This caused GDP to raise 1%. Although research can support positive relationship between production and jobs with GDP, research can also show the negative relationship with tax increases and GDP. [15] Kwhite86 (talk) 17:19, 26 October 2017 (UTC)

References

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  1. ^ https://wiki.riteme.site/w/index.php?title=Military_production_during_World_War_II&oldid=803154952. {{cite web}}: Missing or empty |title= (help)
  2. ^ "Comparison of GDP adjusted for actual yearly shared contribution to war efforts after Zuljan, Ralph, Allied and Axis GDP", "Articles On War", OnWar.com, 2003, retrieved June 8, 2014
  3. ^ Harrison, 1998
  4. ^ Stephen Broadberry, Kevin H. O'Rourke, The Cambridge Economic History of Modern Europe: Volume 2, 1870 to the Present, p. 190
  5. ^ ROMANIA: historical demographical data of the whole country
  6. ^ HUNGARY: historical demographical data of the whole country
  7. ^ BULGARIA historical demographical data of the whole country
  8. ^ ALBANIA: historical demographical data of the whole country
  9. ^ General Article: Foreign Affairs, pbs.org
  10. ^ "The American Economy during World War II". EH.net. Retrieved 10/5/2017. {{cite web}}: Check date values in: |accessdate= (help)
  11. ^ "Institute for Economics and Peace" (PDF). Retrieved 6 October 2017.
  12. ^ Cite error: The named reference undefined was invoked but never defined (see the help page).
  13. ^ [http://economicsandpeace.org/wp-content/uploads/2015/06/The-Economic-Consequences-of-War-on-US- Economy_0.pdf "Economic Consequences of War on the U.S. Economy"] (PDF). Institute for Economics and Peace. Retrieved 10/5/2017. {{cite web}}: Check |url= value (help); Check date values in: |accessdate= (help); line feed character in |url= at position 96 (help)
  14. ^ Institute of Economics and Peace http://economicsandpeace.org/wp-content/uploads/2015/06/The-Economic-Consequences-of-War-on-US-Economy_0.pdf. Retrieved 6 October 2017. {{cite web}}: Missing or empty |title= (help)
  15. ^ Bartlett, Bruce. "The Cost Of War". Forbes.com. Forbes. Retrieved 10/26/17. {{cite web}}: Check date values in: |accessdate= (help)
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