The Cold War Times and Economics

Capitalism was set against communist ideology. Karl Marx’s conceptions of communism affected practically all of the world’s labor classes. Although communism rightly identified the capitalist platform’s profiteering at the expense of the public and exploitation of workers, communism itself had several shortcomings. It missed the network of economic impulses, and state intervention ignored reality on the ground.

However, the capitalist system had weaknesses, such as unfettered market thirst for money and consumerism, which led to the depletion of resources. In capitalism, macroeconomic factors such as downturn and economic prosperity were more common, and there were no such things as happy days. The perception of embarrassment change is always present; such desire comes from the oppressed or labor class, whereas the established class sees it as a danger. Politicians and wealthy individuals misspent the Cold War time because they were terrified of losing power compared to the general populace.

The President of the United States changed due to the Cold War. Both internal and external pressures impacted this development. Internally, Truman’s tough stance against Stalin exerted enough influence on his government to influence numerous presidential acts. Internally, lawmakers exploited anti-communist panic to campaign on a robust and right-wing platform, sometimes accusing the present administration of weakness to better their situation. The US has backed dishonest and anti-democratic administrations that are sympathetic to the US. Until then, the Soviets supported organizations that promoted their goals.

To summarize, the Cold War had two effects on domestic policy: social and economic. In terms of social change, the extensive indoctrination of the American people resulted in a reversal of social improvements. Economically, massive development fueled by war-related businesses was helped by massive government expansion. During the early Cold War years, the American people expressed various concerns. Fears included economic disaster, communism, and assault.

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StudyCorgi. 2023. "The Cold War Times and Economics." May 26, 2023. https://studycorgi.com/the-cold-war-times-and-economics/.

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