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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.
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.
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.
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.
Mobilizing for Modern War: The Political Economy of American Warfare, 1865–1919 (1997) May, Ernest R. The World War and American isolation, 1914–1917 (1959) online at ACLS e-books; Scott, Emmett Jay. Scott's Official History of the American Negro in the World War (1919) 511 pages online edition; Slosson, Preston William.
The British tried to weaken the American economy with a blockade of all ports by the Prohibitory Act 1776, but with 90% of the people in farming, and only 10% in cities, the American economy proved resilient and able to support a sustained war, which lasted from 1775 to 1783. [25]: ch 42, 48
"World War One Timeline". UK: BBC. "New Zealand and the First World War (timeline)". New Zealand Government. "Timeline: Australia in the First World War, 1914-1918". Australian War Memorial. "World War I: Declarations of War from around the Globe". Law Library of Congress. "Timeline of the First World War on 1914-1918-Online.
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.