Inflation, sparked by the war, contributed to the rise in oil prices in 1973 because of the impact of the devaluation of the dollar on oil producers. It also led to the real estate boom of the 1970s, and because of the built-in expectation of inflation, the introduction of variable interest rates and certificates of deposit by banks and offshore banking.
The Department of Defense placed the direct costs of the Vietnam War at $173 billion. To that could be added potential veterans' benefits costs of $220 billion and interest of $31 billion. Of course, veterans did receive educational and other benefits; research and design in certain fields were enhanced; and expenditures in the defense industry provided jobs for millions that might not have been there in other circumstances.
Despite its limited scope, in many ways the Vietnam War influenced the future course of events on the home front as dramatically as the two world wars. Whether the focus is on domestic politics, the economy, the armed services, or even the way presidents have thought about future military interventions, the war profoundly affected all aspects of American life.