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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.
War is often used as a last-ditch effort to prevent deteriorating economic conditions or currency crises, particularly by expanding services and employment in the military and by simultaneously depopulating segments of the population to free up resources and restore the economic and social order. A temporary war economy can also be seen as a ...
Macro- and micro-economic consequences devolved from the war. Families were altered by the departure of many men. With the death or absence of the primary wage earner, women were forced into the workforce in unprecedented numbers. At the same time, the industry needed to replace the lost labourers sent to war.
The military historian Correlli Barnett has argued that "in objective truth the Great War in no way inflicted crippling economic damage on Britain" but that the war "crippled the British psychologically but in no other way". [49] Less concrete changes include the growing assertiveness of Commonwealth nations.
To Raise an Army: The Draft Comes to Modern America (1987) online; Clements, Kendrick A. The Presidency of Woodrow Wilson (1992) Coffman, Edward M. The War to End All Wars: The American Military Experience in World War I (1998), a standard military history. online free to borrow; Committee on Public Information.
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.
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.
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. For nonmilitary interactions among the major players see diplomatic history of World War I.