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Until It's Over, Over There: The US Economy in World War I in Stephen Broadberry and Mark Harrison, eds., The Economics of World War I (2005) ch 10; also (National Bureau of Economic Research, 2004, No. w10580) Paxson, Frederic L. America at War 1917–1918. American Democracy and the World War volume 2 (1936) Schaffer, Ronald.
The aftermath of World War I saw far-reaching and wide-ranging cultural, economic, and social change across Europe, Asia, Africa, and even in areas outside those that were directly involved. Four empires collapsed due to the war, old countries were abolished, new ones were formed, boundaries were redrawn, international organizations were ...
Weapons for Liberty – U.S.A. Bonds, Liberty bond poster by J. C. Leyendecker (1918). During World War I, the United States saw a systematic mobilization of the country's entire population and economy to produce the soldiers, food supplies, ammunitions and money necessary to win the war.
Above all, it was essential to conduct the mobilization in such a way that the short term confidence of the people was maintained, the long-term power of the political establishment was upheld, and the long-term economic health of the nation was preserved. [2] For more details on economics see Economic history of World War I.
According to Shank, "negative unintended consequences occur either concurrently with the war or develop as residual effects afterwards thereby impeding the economy over the longer term". [17] In 2012 the economic impact of war and violence was estimated to be eleven percent of gross world product (GWP) or 9.46 trillion dollars. [18]
The commercial and financial elite recognized peace as necessary for economic development and used its influence to resolve diplomatic crises. Economic rivalries existed but were framed largely by political concerns. Prior to the war, there were few signs that the international economy stood for war in the summer of 1914. [81]
On a wider scale, the Fascist economic policy pushed the country towards the corporative state, an effort that lasted well into the war. The idea was to create a national community where the interests of all parts of the economy were integrated into a class-transcending unity. Some see the move to corporatism in two phases.
Supposedly, the fee was payment for the Nazi occupation forces. In reality, the money was used to fuel the war economy. [10] Germany employed numerous methods to support its war effort. However, the German surrender to the Allies makes it difficult to tell what the Nazis' economic policies would have yielded in the long term.