Question

Describe the impact of World War II (class 10).

Answer 1

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The Second World War (WWII) was one of the major transformative events of the 20th century, with 39 million deaths in Europe alone. Large amounts of physical capital were destroyed through six years of ground battles and bombing. Many individuals were forced to abandon or give up their property without compensation and to move on to new lands. Periods of hunger became more common even in relatively prosperous Western Europe. Families were separated for long periods of time, and many children lost their fathers. Many, including young children, would personally witness the horrors of war as battles and bombing took place in the very areas where they lived. Horrendous crimes against humanity were committed. Due to WWII, political and economic systems in many countries would be permanently altered.

In this paper, we investigate long-run effects of World War II on late-life economic and health outcomes in Western continental Europe (health, education, labor market outcomes and marriage). We explore several channels through which this war might have influenced individual lives, and document which groups of the population were most affected. Our research relies on retrospective life data from the European Survey of Health, Aging, and Retirement in Europe (SHARE) that have recently become available. SHARE covers representative samples of the population aged 50 and over in 13 European countries, with about 20,000 observations. We also collected external data on casualties, timing and location of combat action, yearly GDP by country, population movements, and male-female population ratios. To our individual-level analysis of the multidimensional effects of a major shock that affected life circumstances, we add new dimensions to a rapidly increasing literature that aims at explaining the causes of health and wealth gradients in labor and health economics

Answer 2

Answer:

Your answer is here....

(i) The Second World War, like the First, caused immense amount of economic damage and devastation. Vast parts of Europe and Asia were destroyed. US emerged as the dominant economic and political power.

(ii) Emergence of Soviet Union as a super power is another important effect. Being the leader of the communist bloc it posed great threat to capitalist economy.

(iii) Economists and politicians drew a key lesson from the inter war experiences that an industrial society cannot be sustained without mass production and mass consumption. To establish this a stable income and full employment is required. Fast growth of economy is a feature of this period.

(iv) Second World War shattered the economy of the colonies. International Monetary Fund and World Bank were set up to ensure economic stability.

(v) The new international economic order was founded by NAM countries to improve the economy of the developing nations.....

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