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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]
Over Here: The First World War and American Society (Oxford University Press, 2004) Koistinen, Paul A.C. "The 'Industrial-Military Complex' in Historical Perspective: World War I," Business History Review (1967): 378–403. in JSTOR; Koistinen, Paul A. C. Mobilizing for Modern War: The Political Economy of American Warfare, 1865–1919 (1997 ...
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 ...
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.
World War I affected children in the United States through several social and economic changes in the school curriculum and through shifts in parental relationships. For example, a number of fathers and brothers entered the war, and many were subsequently maimed in action or killed, causing many children to be brought up by single mothers. [61]
The implementation of the Dawes Plan also saw a positive economic impact in Europe, largely funded by American loans. [74] Under the Dawes Plan, Germany always met her obligations. [75] However, German long-term goals remained the same despite the apparent reconciliation: the revision of the Treaty of Versailles to end reparations.
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This ended the deflation and contributed to the economic recovery. [19] James Grant discusses in his 2014 book, The Forgotten Depression, 1921, why the depression of 1920–1921 was relatively short compared to the 21st century's economic recession and the following economic downturn that started in 2007. "The essential point about the long ago ...