How far did the First World War transform key areas of social and economic life in Britain?

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How far did the First World War transform key areas of social and economic life in Britain?

    The First World War changed a lot of things social and economically for Britain. These changes consisted of the diminishing international trade, the woman’s role, and changes in political issues and different attitudes to the war. I will show how far Britain’s economic and social state changed due to the war, causing negative and positive changes.

    Britain’s international export trade was a problem for Britain as during the war Staple industries relied heavily on exporting; they also relied on old markets such as Russia, the Far East and elsewhere which were closed to them because of the war. Also former customers who where in need of coal, textiles and steel turned to other new suppliers such as America and Japan. The contraction of trades during the war helped reduce the income Britain traditionally derived from shipping, which caused inter-war unemployment. Yet there were still advantages stemming from the war. The productivity of the British industry increased rapidly owing to state-sponsored mechanisation. Also there seemed to be a better standard of the engineering products as well as electric power being used more, because of all the factory work. The distortion of the economy also helped to stimulate industries such as engineering, chemicals, shipbuilding, coal, iron and steel, which had a direct relevance to the armed forces. However textiles did not have much relevance during the war and slowly lost value. Another positive impact due to the war was that after the war there was a post-war boom in the years 1918-1920. Investment and the demand for goods were both high, also industrial production rose to 29% within two years of the end of the war. Unemployment was consequently low. However, in December 1920 the bubble burst and a brief but acute depression begun, known as the ‘great depression’ today. This ‘great depression’ effected many parts of the world’s economy, such as America and Germany. The prices of goods fell, industrial production slumped, and unemployment reached two million by 21st June 1921. Britain also begun to grow heavily in debt, due to the war payments. So to help pay off these debts, Britain sold off foreign assets and borrowed heavily at home and abroad. The increased size of national debt had an inflationary effect in Britain, the problems of wartime finance forced Britain off the gold standard, under which the value of the pound had been linked to gold.

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     One of the main social changes was how the war affected the psychology of the whole nation in some degree, the combatants most of all but also their families at home. Ideas about war begun to change. It brought a more realistic view to the British people about what modern welfare involved. The war also created a term called the ‘lost generation’ this applied to the people who perished in the war but to those who were permanently alienated and disoriented by it. The First World War was the cause of many deaths, majority of this being the ...

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