The First World War began in August 1914. This war was the result of a comprehensive and profound crisis that has engulfed the capitalist world in the twentieth century. The United States entered the First World War April 6, 1917. For the United States, mobilization of human and material resources for the war in Europe was a quiet difficult task. The country was completely unprepared for a large ground war. However, using rich possibilities of the country, US in a short time frame created and established a military machine that corresponds to the scale of the United States potential. The US railroads that belong to private companies were placed under the government control. Herbert Hoover conducted a campaign for food economy, which later contributed to the adoption of 18th Amendment to the US Constitution about the “Prohibition of alcohol”. Until 1915, there was some decline in the country's industry, but later this decline was replaced by the rise, thanks to the supply of equipment to the warring powers (“U.S. Economy in World War I”).
Military actions did not affect the American continent, and the, therefore, country does not felt the massive destruction of productive forces, which took place in Europe. Due to the growing demand for all kinds of strategic raw materials - weapons, ammunition, food, the US became the most developed country in the world. During the First World War, the US turned into a highly developed industrial power, whose national wealth has increased up to 40%. The country has successfully developed industry, agriculture, financial and credit system. The United States raised the slogan: “Food will win the war”. The export of products and goods has tripled. The US continued to develop the market economy, unlike other industrialized countries that turned their economy to controlled market type. During the war, the United States captured the world's major markets and sources of raw materials and installed the US domination in the Western Hemisphere. Thus, the most important change of the war for the country was the change in the international status of the USA as the main creditor of European states, and New York has become an international financial center.
References
U.S. Economy in World War I. Economic History Association. Retrieved from: http://eh.net/encyclopedia/u-s-economy-in-world-war-i/
