Social Sciences, asked by aasthazaildar08, 4 months ago

what were the main two objectives of the development of industries in north america​

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Answered by mansitalpada1303
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Answer:

The Great Depression began in North America in October 1929. The start is often dated to the stock market collapse of Black Tuesday although this was not the cause of the Great Depression.[7] Canada and the United States experienced especially large declines, with the gross domestic product falling 37% from 1929 to 1933 in the United States, and 43% in Canada over the same period.[8] The economy reached its lowest point in 1933, however recovery was slow. The outbreak of World War II in 1939 created demand for war materials that brought about the end of the depression.

The Great Depression spurred increased government intervention in the economy in North America. The United States introduced unemployment insurance, a minimum wage and standardised working hours under the New Deal.[9] Canada introduced similar measures.[10] Mexico nationalised some key industries during the Great Depression, with the railroads nationalised by 1937 and the oil industry nationalised in 1938.[11]

World War II Edit

Due to the large scale enlistment of men into armed forces during World War II, women entered the workforce en masse, filling many jobs in manufacturing and technical areas that had previously been closed to women. This led to the "We can do it!" campaign.[12] The economic output in North America increased substantially, with unemployment practically eliminated in the United States.[13] Rationing severely reduced the availability of consumer goods, with the increase in industrial production coming from the demand for war materials. During the peak of World War II activity, nearly 40 per cent of US GDP was devoted to war production.[14]

Cold War Edit

After the 2nd world war, the United states and Russia emerged as the world superpowers with both economies being strong and thus each country wanted to be recognised as a superpower.The relationship between the two countries further deteriorated with the space race.

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