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The Rise and Fall of the Great Powers: Economic Change and Military Conflict from 1500 to 2000 (1987) pp 256–74; Mendershausen, Horst. The Economics of War (1940) online; Smith, Andrew, Simon Mollan, and Kevin D. Tennent, eds. The impact of the First World War on international business (Routledge, 2016). Strachan, Hew.
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.
Gott argued that relief should first go to citizens of countries that had suffered at the hands of the Central Powers, while Osner made an appeal for a more universal application of humanitarian ideals. [60] The American economic influence allowed the Great Depression to start a domino effect, pulling Europe in as well.
"Help the Red Cross". American poster by the U.S. Food Administration, circa 1917-1919. The home front during World War I covers the domestic, economic, social and political histories of countries involved in that conflict. It covers the mobilization of armed forces and war supplies, lives of others, but does not include the military history.
American imports and exports plunged by more than two thirds, but since international trade was less than 5% of the American economy, the damage done was limited. The entire world economy, led by the United States, had fallen into a downward spiral that got worse and worse, and in 1931–32 began plunging downward even faster.
The European liquidation of American securities in 1914 (also called the financial crisis of 1914) was the selloff of about $3 billion (equivalent to $91.26 billion in 2023) of foreign portfolio investments at the start of World War I, taking place at the same time as the broader July Crisis of 1914.
Treasury Secretary Janet Yellen said that if Congress does not raise the debt ceiling, the Treasury will run out of emergency funds to pay U.S. debt holders by that date.
Resch, John P., ed. Americans at War: Society, culture, and the home front: volume 3: 1901-1945 (2005) Schaffer, Ronald. America in the Great War: The Rise of the War-Welfare State (1991) Trask, David F. The United States in the Supreme War Council: American War Aims and Inter-Allied Strategy, 1917–1918 (1961) Trask, David F.