Write a 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.
During World War I, the U.S. government implemented various measures to manage the economy in order to support the war effort. The Food Administration, led by Herbert Hoover, was established to regulate food production, distribution, and prices to ensure that soldiers and citizens at home had enough to eat. The War Industries Board (WIB) was responsible for overseeing the production of war materials and coordinating industrial efforts to maximize efficiency. The War Labor Board was created to mediate disputes between workers and employers and prevent strikes that could disrupt production. Overall, the government's management of the economy during World War I led to a significant increase in industrial production, as factories were repurposed to supply the war effort. However, this also led to inflation and shortages of consumer goods, which had a negative impact on the general population.
