"When the war began, the U.S. economy was in recession. But a 44-month economic boom ensued from 1914 to 1918, first as Europeans began purchasing U.S. goods for the war and later as the United States itself joined the battle. "The long period of U.S. neutrality made the ultimate conversion of the economy to a wartime basis easier than it otherwise would have been," writes Rockoff. "Real plant and equipment were added, and because they were added in response to demands from other countries already at war, they were added precisely in those sectors where they would be needed once the U.S. entered the war.""
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Sources
Carlos Lozada, “The Economics of World War I”, National Bureau of Economic Research Digest, (January 2005)
https://en.wikiquote.org/wiki/World_War_I
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World War I
World War I (WWI or WW1), also known as the First World War or the Great War, was a global war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918. More than 9 million combatants and 7 million civilians died as a result of the war, a casualty rate exacerbated by the belligerents' technological and industrial sophistication, and tactical stalemate. It was [[w:List of wars and anthropogenic disasters by death toll|one of the deadliest c
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