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Economic consequances of WW1

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Introduction

Economic consequences of the WW1 Evolution of world economy in the first interblic decade was determined decisively by the consequences of the First World War. The extremely complicated economic problems appeared after the war caused an imbalance in world economy, production, world trade, currency system. The material loses, war destruction, unproductive consumption lead to reduction of industrial and agricultural potential of Europe with the average of 40% and 30%. The War mobilised approximately 65 million people, of which 9 million people died , 15 million were injured ,5 million disappeared and 7 million of invalids with 300,000 people with 100% of invalidity. To these loses it adds more then 5 million orphans, more then 4 million widows, and more then 4 million of civilians who died because of illness. ...read more.

Middle

This deficit was caused by the decrease of male population number. France and Great Britain were first who noted the phenomenon of aging population, from 1911-1921 the average of aged population who overcame 60 years increased in France from 12,6%- 13,7% and in Great Britain from 8%-9,4%. Because of the defiency (deficit) of work force created by the war, the government involve the female part and the children. Because the lost of the skilled labour and the utilisation of these work force caused the decreased in quality , productivity and the efficiency of the production. The social integration of invalid people who had the right of compensation from the government, like the orphans and widows had, determined a big financial need, as the budgets were poor enough after the loses of the war. ...read more.

Conclusion

To restore everything what was made in 4 years it needed 16 years. The totally cost of the war was different, is starts from 273 milliard to 338 milliard dollars. The biggest destruction were in France , Belgium, Romania, Serbia and Poland. The fourth years of war caused in France the decrease of production with 30 % and 50% of enterprises closed. Germany lost her rich economics areas and the usage of all existent material.From 1913-1919 the production of coal decrease from 190-108 tones and half of potatoes production. In Russia the decrease of the production achieve 71% of coal production,66% of oil,97% of iron. The most important consequence of the war is the change of the world leaders, Europe lost her position of economic leader and USA and Japan took its place. Cristina Gherasim ...read more.

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