The U.S government managed the economy during WWI by giving centralized price. It was all controlled by the Idustries Board,food adminstration and WLB. By doing that, came the great depression and then world war three. The US economy had alot due to there part in WWI.
Actually, the statement is incorrect. The U.S. government's management of the economy during WWI involved various agencies and measures, but it did not lead directly to the Great Depression or World War III. Here is a more accurate explanation:
During WWI, the U.S. government implemented several measures to manage the economy and ensure sufficient resources for the war effort. The War Industries Board (WIB) was created in 1917 to coordinate and oversee industrial production, including setting centralized prices. It aimed to increase efficiency and eliminate waste in war-related industries.
The Food Administration, headed by Herbert Hoover, was responsible for increasing food production and conservation. It encouraged voluntary rationing and promoted "Meatless Mondays" and "Wheatless Wednesdays" to conserve resources for the military.
The War Labor Board (WLB) was established to mediate labor disputes and maintain industrial production during the war. It aimed to prevent strikes and ensure a stable workforce.
While these measures were effective in supporting the war effort, they did not directly cause the Great Depression. The economic downturn of the 1930s had its roots in various factors, including the stock market crash of 1929, speculative fever, excessive credit expansion, and weak banking regulations.
Furthermore, the claim that World War III occurred as a direct result of the U.S. economy's involvement in WWI is inaccurate. World War III has not taken place, and wars are complex events that cannot be solely attributed to specific economic factors.