Was World War II Ultimately Beneficial for the US and the Rest of the Research Paper

Was World War II Ultimately Beneficial for the US and the Rest of the World - Research Paper Example ... since the end of the Second World War, there are two major features of the capitalist world that immediately stand out and call for remark. Firstly there is the marked extension in American and in Western Europe of the economic activities of the state: developments, to a large extent novel both in degree and in kind, of what have been variously called State Capitalism or State Monopoly Capitalism. Secondly, on a world scale there is the radical change in the position of large areas of the former colonial and semi-colonial sector, especially in Asia and Africa, and consequently in the relations, both political and economic, between these areas and the imperialist countries, to which they were formerly subordinated. (Dobb 387) The USA was the only country whose economy boomed during the war. Not a single enemy stepped on its soils and the lives of a few civilians were sacrificed. Even the army did not suffer a heavy loss in terms of causalities. â€Å"... the economic prosperity c reated by World War II left a deep impression on the American people. Before the war, the United States was mired in the Great Depression. Unemployment which was as high as 29.4% in 1933 still averaged 14.6% in 1940. During the war, unemployment dropped rapidly.† (Degrasse 36) This was not true for other countries though- the USSR, Japan, Germany, China, France, Britain, Greece, Holland, and other countries suffered heavy losses. The aftermath of the war was horrifying for the rest of the world. â€Å"... with increasing acknowledgement of the United States’ status as the leading democratic power came increased acceptance of responsibility in the global arena... Perhaps with constructive American involvement a better world could be shaped, a world more prosperous, free, democratic and safe.† (Price 71) Decolonization was not only in the interest of the colonies but of the US as well. The US was dreading another depression at the end of the Second World War, and w as planning to market its products to the former colonies in Asia and Africa. This was not possible as the colonialist powers would never have granted access to the US as long as they remained in power. The US was also determined to decolonize subjugated nations because of its ideals of equality, freedom and democracy. The US also had its deep interests in the Middle East region and wanted to establish its oil exploring companies permanently over there. This was only possible if this region was decolonized so that America could build its dreams. The colonialists themselves were finding it hard to resist the pressure coming from the colonies for independence- most notable from India. Post-Second World War scenario was already very challenging for them to handle matters at home. Therefore, a weakened Europe was ready to decolonize its territories. Cold War was also a consequential factor of the Second World War. The Nazi Germany fell in 1945 and was divided into 4 military occupation zones occupied by France, Great Britain, USA and Soviet Union. It faced a terrible time of hyperinflation and was rescued by the Marshal Plan to some extent. At the end of the war the problem of