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Impact of ww1 on british economy
Impact of ww1 on british economy
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World War I, fought between major European superpowers, was an event that shook the world. The first global war was a shock to all, but was experienced differently by everyone. For Richard Lindsay Mackay, World War I was a time for him to fight bravely for his country as he experienced the horrors of war. He wrote in his journal whenever he had the scarce opportunity for down time. He wrote accounts mentioning the pain of making a homemade cross for his comrade’s grave, the brutality of only getting five hours of leisure time, which he used for sleep, and not even being able to recall if he ate something one day. However, despite his hardships as a soldier, he enthusiastically wrote about travelling to London and hearing the popular song Destiny Waltz that symbolized bravery in wartime (Mackay). Like Mackay, people back home in belligerent countries also associated wartime with consumer goods, such as music. In fact, many British citizens noticed an increase in American-made goods available in their country. As many men fell in war, America rose as a new superpower, creating situations that would lead to a more homogenous society. American domination of the world market from 1914 to 1930 started the “Americanization” of Britain’s culture through increased American influence and the simultaneous disdain for traditional Victorian society by the new generation of British youth.
America’s mobilization for war and aid to Britain led to an advancement of the American economy. As a country at war with many working-aged men occupied by serving in the army, Britain was in great need of supplies such as food, clothes, guns, and ammunition. In four years, the United States’ exportation of these goods increased from one and a half billion t...
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... was rampant. The British economy of 1919 was not even close to the one of 1900, it could not sustain the gold standard .But, in the 1920's was a boom. From 1922 to 1927 the value of gross external assets held by Americans, especially in Europe rose 400%. By 1928 United States had loaned one billion per annum and the biggest borrower was Germany.
The 1920s, often referred to as the Roaring Twenties, was a time of great change and a time of powerful enthusiasm in many areas of society. The world had just finished the biggest war in history, the First World War, and the United States was left almost unharmed by the war. The United States was able to experience a decade of peace and success following the war. During this decade, America became the wealthiest country in the world (Trueman, 2000). The people in the United States went through a colorful period during the twenties. However, at the same time the 1920s was also a very rebellious and difficult time for many. The culture of the 1920s has influenced the culture of America’s society today.
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WWII and the great depression were important economic events during the twentieth century(Tassava-para1). On September 1, 1939, France and Great Britain sent Adolf Hitler an ultimatum either to withdraw German forces from Poland, or they both would go on war against Germany(about education-para 14,15). In spite of the ultimatum, German forces didn’t leave Poland so the war had begun(about education-para 15). The U.S. tried to stay neutral, but supported France, England, and Soviet Union. However, when Pearl Harbor was attacked by Japan, the U.S. decided to join the Allies (France, England, and Russia) and join the war against the Axis Powers (Japan,Germany, and Italy). When the U.S. entered WWII, the Great Depression ended with the explosive spending during times of war(bill,-
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This was caused in large part by the First World War and the unique nature of America’s involvement therein. For most of the war America did not actively participate, and instead lent money and exported arms, munitions and food supplies to the Allies (Walsh 187). They also took the opportunity to expand their markets in the colonies of the warring countries, and they reaped economic benefits. Furthermore, the war conveniently destroyed their industrial competitors; after the war, many countries’ industries were impoverished. Their industries in steel, coal, oil and textiles remained strong after the war, and their chemical and film industries developed; America was the industrial leader of the world (Walsh 186).
“In the first war I was hurt very badly. In the body, mind and spirit and also morally” when earnest Hemingway wrote this about WWI he really illustrated how brutal this world war was and how traumatic it was for the soldiers. WWI was a war that had an impact on the course of history forever. The war destroyed the mind of the soldiers, and the life of the countries, which were impacted by the war. This time period was tainted with the idea of imperialism, the countries who followed this idea, believed that this implied whoever had the largest empire had the strongest country. These imperialistic countries owned the strong trait of nationalism, with this pride in their country; they felt they had to protect their national sovereignty and superior
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