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The post–World War I recession was an economic recession that hit much of the world in the aftermath of World War I. In many nations, especially in North America, economic growth continued and even accelerated during World War I as nations mobilized their economies to fight the war in Europe. After the war ended, the global economy began to ...
As the relative peace in Europe dissipated in the 1930s, countries failed to coordinate economic policies and could not exploit the aforementioned growth factors. Investment slowed as resources were put towards preparing for another armed conflict due to friction over the redistribution of economic and political power after World War 1.
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 ...
Austria-Hungary was geographically the second-largest country in Europe after the Russian Empire, at 621,538 km 2 (239,977 sq mi), [80] and the third-most populous (after Russia and the German Empire). In comparison with Germany and Britain, the Austro-Hungarian economy lagged behind considerably, as sustained modernization had begun much later ...
In the history of the 20th century, the interwar period (interbellum) lasted from 11 November 1918 to 1 September 1939 (20 years, 9 months, 21 days) – from the end of World War I (WWI) to the beginning of World War II (WWII). It was relatively short, yet featured many social, political, military, and economic changes throughout the world.
The debt problem was exacerbated by printing money without any economic resources to back it. [1] John Maynard Keynes characterised the inflationary policies of various wartime governments in his 1919 book The Economic Consequences of the Peace as follows: The inflationism of the currency systems of Europe has proceeded to extraordinary lengths.
There were several reasons for the decline in industry after the First World War. The end of the war brought a boom. In the shipping industry, businesses expanded rapidly in order to take advantage of the increase in demand. However, the boom was short-lived and this rapid expansion caused a slump from oversupply. [3]
The upheaval associated with the transition from a wartime to peacetime economy contributed to a depression in 1920 and 1921. The Depression of 1920–1921 was a sharp deflationary recession in the United States, United Kingdom and other countries, beginning 14 months after the end of World War I. It lasted from January 1920 to July 1921. [1]