What was the global impact on world war 1?
^topic...
Answer:
It essentially ended the viability of the gold standard. Every involved nation printed shitloads of money to finance the war effort. After the war, Germany continued this strategy to pay their war debts and caused hyperinflation.
The West tried to reduce their money supply back to their pre-WWI levels and eventually caused DEflation and the Great Depression.
faster technological advancement, at the end of WWI, the tank had been invented.
better medicine practices - had to heal alot of people
unresolved problems in europe (after assassination of F. Ferdinand, Austria)
anyone think of more?
Dramatic and mostly disasterous,
I took an economic history class that basically pinned all the worlds problemsdown to WWI. Apart from the huge cost and dramatic loss of life WWI was a catalysyst for social, political and economic change. WWI ushered in the brave new world of communism fascism socialismand mixed up economics. To this day we are still trying to unravel the negative consdequences. For example, the war in Iraq, indead the middle east (war on terror) problem is a direct result of WWI. You see the Arab world used to be part of the Ottoman Empire. This Empire, for all it's faults kept the bickering tribes of Arabia in line. WWI broke the empire. After the breakup the UK and France divided Arabia up between themselves and created what was to become the state of Isreal. Needless to say they made a hatchet job of it, and Arabs correctly blame the west for problems in the region. Got to go now but ill be back.
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Answer:
It essentially ended the viability of the gold standard. Every involved nation printed shitloads of money to finance the war effort. After the war, Germany continued this strategy to pay their war debts and caused hyperinflation.
The West tried to reduce their money supply back to their pre-WWI levels and eventually caused DEflation and the Great Depression.
faster technological advancement, at the end of WWI, the tank had been invented.
better medicine practices - had to heal alot of people
unresolved problems in europe (after assassination of F. Ferdinand, Austria)
anyone think of more?
Dramatic and mostly disasterous,
I took an economic history class that basically pinned all the worlds problemsdown to WWI. Apart from the huge cost and dramatic loss of life WWI was a catalysyst for social, political and economic change. WWI ushered in the brave new world of communism fascism socialismand mixed up economics. To this day we are still trying to unravel the negative consdequences. For example, the war in Iraq, indead the middle east (war on terror) problem is a direct result of WWI. You see the Arab world used to be part of the Ottoman Empire. This Empire, for all it's faults kept the bickering tribes of Arabia in line. WWI broke the empire. After the breakup the UK and France divided Arabia up between themselves and created what was to become the state of Isreal. Needless to say they made a hatchet job of it, and Arabs correctly blame the west for problems in the region. Got to go now but ill be back.
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