The Cold War was the most important political issue of the early postwar period. It grew out of longstanding disagreements between the Soviet Union and the United States. ... Reduced trade barriers, it was believed, would promote economic growth at home and abroad, and bolster stability with U.S. friends and allies.

What was the Cold War and why was it so important?

The Cold War was important because it split the world into two rival sides that came into conflict with each other in a number of places around the world. This conflict has left us with, among other things, a huge aresenal of nuclear weapons, particularly in the US and in Russia.

What was the most important effect of the Cold War?

Economically, enormous growth spurred by industries related to war was aided by heavy government expansion. However, New Deal economics felt the greatest impact of the Cold War. By the 1950's, New Deal reforms were often associated with the left.