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Until It's Over, Over There: The US Economy in World War I in Stephen Broadberry and Mark Harrison, eds., The Economics of World War I (2005) ch 10; also (National Bureau of Economic Research, 2004, No. w10580) Paxson, Frederic L. America at War 1917–1918. American Democracy and the World War volume 2 (1936) Schaffer, Ronald.
These works had a strong impact on society, causing a great deal of controversy and highlighting conflicting interpretations of the war. In Germany, German nationalists including the Nazis believed that much of this work was degenerate and undermined the cohesion of society as well as dishonoring the dead.
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.
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]
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 commercial and financial elite recognized peace as necessary for economic development and used its influence to resolve diplomatic crises. Economic rivalries existed but were framed largely by political concerns. Prior to the war, there were few signs that the international economy stood for war in the summer of 1914. [81]
On a wider scale, the Fascist economic policy pushed the country towards the corporative state, an effort that lasted well into the war. The idea was to create a national community where the interests of all parts of the economy were integrated into a class-transcending unity. Some see the move to corporatism in two phases.
The following outline is provided as an overview of and topical guide to World War I: . World War I – major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918.