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footsizer asked in Social ScienceEconomics · 1 decade ago

When did the U.S. become the largest economy in the world?

What year did that happen, and what was the previous biggest economy? What was the U.S. population then?

6 Answers

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  • 1 decade ago
    Favorite Answer
  • United States of America became the world's richest country under the president of Dwight D. Eisenhower in the late of 1950s.

  • 1 decade ago

    Before WW2 the US was in Isolationism, they made no contact with other countries. But when WW2 ended the US's economic growth skyrocketed and quickly became by far the worlds largest economy. Capitalist nations thrive in war, because the unemployed (who are taking government money, from taxpayers) start getting jobs or replacing jobs because people have left to serve in the army/navy/air force/marines.

  • poproc
    Lv 4
    1 decade ago

    After World War Two. Europe was destroyed and the United States took its place.

    Previous to that Western Europe was bigger.

    Notice the share of world GDP the US enjoyed after 1950 in the second graph.

    http://www.visualizingeconomics.com/category/count...

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  • Anonymous
    4 years ago

    right it fairly is the difficulty if we US will confirm economic gadget difficulty, and upward thrust back a million. If American billionaire (inclusive of invoice Gates and Steve Jobs) initiate starting to be greater patriotic, and return their factories to united states of america like earlier 2. If economic gadget-functional human beings grow to be a president 3. If we shrink our militia spending a minimum of via a million/2 (even that, we will nonetheless spend better than France and China), so the greater shrink, the greater effective it quite is 4. If corporation men right here settle directly to speculate in different worldwide places as a replace (ideally Southeast Asia), or greater effective, in US itself 5. American do no longer spent too lots money procuring this, procuring that 6. return our troops domicile from the war that's no longer fought with fairly enemy squaddies (inclusive of Iraq and Afghanistan, their troop supposedly now might desire to fought insurgents themselves) Key theory: maximum of our taxes are loss to pointless war, it quite is conceivable to get well, yet cooperation is critical

  • meg
    Lv 7
    1 decade ago

    China had the biggest economy until a little after 1870. All of Western Europe was bigger but it was divided among many countries. see graphs at

    http://www.visualizingeconomics.com/category/count...

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