Economic Impact Of The Space Race - 1486 Words

Economic Impacts of the Space Race By: Kimia The space race was a competition between the United States and the Soviet Union that occurred during the Cold War. They competed for dominance in space technology and spaceflight, which spurred many significant inventions and events. Some of these inventions and events include the first-ever landing on the moon, the first artificial satellite to be launched into the Earth’s orbit, the establishment of NASA, the invention of the microprocessor computer, the invention of satellite communication technology, and other direct and indirect impacts. Each of the different events and inventions that spawned from the space race have had significant impacts on the United States economy. After the end of World War II on September 2, 1945, a new era called the Cold War began. The Cold War was a non-violent state of political and military tension between the democratic and capitalist United States and the communist Soviet Union: two of the biggest powers of the world at the time. However, they were drastically different in both economy and politics, allowing rivalry to build up. They both wanted to become the most powerful nation of the world, and both feared that the other nation would rise up to become the most powerful nation of the world. Throughout the Cold War, the US and the Soviet Union, the USSR, tried to outspend and outdo each other. They looked for any advantage they could get to achieve more attainments than theShow MoreRelatedThe Benefits of Space Exploration Essay1053 Words   |  5 Pages Curiosity has played an integral role in the advancement of the human species. From the discovery of fire by ancient ancestors to modern space explorations, it has been curiosity and the pursuit for a better future that has made humanity explore and innovate. 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