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The economic history of World War I covers the methods used by the First World War (1914–1918), as well as related postwar issues such as war debts and reparations. It also covers the economic mobilization of labour, industry, and agriculture leading to economic failure. It deals with economic warfare such as the blockade of Germany, and with ...
Economy of Nazi Germany. Economy of Nazi Germany. Prisoner work force in the construction of the Valentin submarine pens for U-boats, in 1944. Location. The Third Reich and German-occupied Europe; forced labor predominantly from Nazi-occupied Poland and the Nazi-occupied Soviet Union. Period. Great Depression and World War II (1933–1945)
Price controls. Price controls are restrictions set in place and enforced by governments, on the prices that can be charged for goods and services in a market. The intent behind implementing such controls can stem from the desire to maintain affordability of goods even during shortages, and to slow inflation, or, alternatively, to ensure a ...
World War I[j] or the First World War (28 July 1914 – 11 November 1918), also known as the Great War, was a global conflict between two coalitions: the Allies (or Entente) and the Central Powers. Fighting took place mainly in Europe and the Middle East, as well as in parts of Africa and the Asia-Pacific, and in Europe was characterised by ...
The value of the German currency continued to fall in the immediate aftermath of the First World war. By late 1919, by which time the German government had signed the Treaty of Versailles, which included an agreement to pay substantial reparations to the Allied powers both in hard cash and in in-kind shipments of goods such as coal and timber, 48 paper marks were required to buy a US dollar. [4]
One estimate (using 1913 US dollars), is that the Allies spent $147 billion ($4.5tr in 2023 USD) on the war and the Central Powers only $61 billion ($1.88tr in 2023 USD). Among the Allies, Britain and its Empire spent $47 billion and the United States $27 billion; among the Central Powers, Germany spent $45 billion.
Office of Price Administration. The Office of Price Administration (OPA) was established within the Office for Emergency Management of the United States government by Executive Order 8875 on August 28, 1941. The functions of the OPA were originally to control money (price controls) and rents after the outbreak of World War II.
An Act to provide further for the national security and defense by encouraging the production, conserving the supply, and controlling the distribution of food products and fuel. The Food and Fuel Control Act, Pub. L. 65–41, 40 Stat. 276, enacted August 10, 1917, also called the Lever Act or the Lever Food Act was a World War I era US law that ...