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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 ...
All of the powers in 1914 expected a short war; none had made any economic preparations for a long war, such as stockpiling food or critical raw materials. The longer the war went on, the more the advantages went to the Allies , with their larger, deeper, more versatile economies and better access to global supplies.
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]
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.
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 ...
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]
Fascists saw World War I as a revolution that brought massive changes to the nature of war, society, the state, and technology. The advent of total war and the total mass mobilization of society had broken down the distinction between civilians and combatants. A "military citizenship" arose in which all citizens were involved with the military ...
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] Structural weaknesses in the British economy meant a disproportionate number of jobs were in the traditional industries.