Write a easy worded 6 sentence paragraph describing how the U.S. government managed the economy during World War I and the economic effects of that management. Consider the roles played by the Food Administration, the War Industries Board (WIB), and the War Labor Board.

Answer 1

During World War I, the U.S. government took steps to manage the economy in order to support the war effort. The Food Administration, led by Herbert Hoover, was created to ensure the efficient production and distribution of food to both civilians and soldiers. The War Industries Board (WIB) was established to coordinate the production of war materials and prioritize resources for the military. The War Labor Board was formed to address labor disputes and ensure fair wages and working conditions for workers in industries crucial to the war effort.

Overall, the government's management of the economy during World War I had both positive and negative effects. On the positive side, the coordinated efforts of the Food Administration, WIB, and War Labor Board helped ensure a stable economy and efficient production of goods needed for the war. However, these measures also led to government intervention in the economy, which some viewed as excessive. Additionally, the war effort caused inflation and shortages of consumer goods, which had lasting effects on the economy even after the war ended.