and, Turkish Empire was reduced, and in Germany the war and the peace settlement had
an impact on the rise of Nazism. According to the historian, Niall Ferguson, a by-
product of these changes was the major triumph of republicanism. But the Great War
did not stop colonial expansionism and nationalism played a major role in European
politics. After considering the above effects, it can be said that the Great War had
significant effect on politics.
The most important effect of the war was the impact it had on the economy.
According to historian Niall Ferguson, ‘The war literally and metaphorically blew up
the achievements of a century of economic advance’. At the end of the war, the western
allies were deeply indebted to the United States. The heavy loans gave way to
temptation to print more money, which resulted in inflation, which had already begun
during the war. Britain did not follow the temptation but sought out a solution by
increasing direct taxation. The governments intervened with everyday life in a greater
scale. They nationalised the railway, took control of shipping and mines and the
rationing of food was introduced. According to Robert Wolfson and John Laver,
economists calculated that the war cost two to four years of normal growth of capital
resources. According historian Terry Morris, some of the other economic factors were
the loss of trade during the war years, the loss of foreign investments and losses caused
by economic instability. The total cost is said to be 34000 million pounds. Therefore it
can be stated that the war had a massive impact on the economy.
World War 1 is said to be the cruellest scourge since Black Death. 22 million
dead and 21 million wounded. According to Terry Morris, the disabled, more than the
dead proved to be a problem for the governments as they had to be supported by state
pensions which was a burden to the struggling economies. The dead proved to be an
emotional issue and much has been written about a ‘lost generation’. Therefore the cost
of lives can be seen as a significant effect of war.
The war made significant changes in attitudes and society. Women started to
play a major role in society as they did men’s jobs during the time of labour shortage.
But the negative effect of that was the girls in the munitions industry were exposed to
poisonous gases and fumes which turned their skins yellow and resulted in them getting
ostracised. But after the war, women gained a respectable place in society and gained
the right to vote. Civilians suffered from food shortages and various diseases due to
malnutrition. State intervention heavily affected social lives of individuals as laissez
faire principals were neglected. The war weakened Europe and strengthened Russia and
the United States, as Europe had to find employment for demobilised soldiers and had a
struggling economy. Unemployment led soldiers to join paramilitary organisations such
as Freikorps and Heimwehr, which promoted violence. Therefore the significant effects
on society can be seen.
In conclusion, it can be stated that World War 1 had dramatic effect on all
combatant nations in many different aspects such as politics, economy, cost of lives and
in society.
