Question

the inter world economy

Answer 1

The Inter-war Economy

The First World War wreaked large scale havoc around the world in many senses. About 9 million people died and 20 million people were injured in the wake of the war.

Most of the people who were killed or maimed were people from working age. This resulted in a significant reduction in the number of able-bodied workforce in Europe. Due to fewer earning members in the families, the household incomes drastically reduced in Europe.

Most of the men were forced to engage in war and thus women had to replace them in factory jobs. Women were now working in those jobs which were earlier considered as male bastions.

The war also led to snapping of ties between some major economic powers of the world. Britain had to borrow from the US to finance the war. The war transformed the US from an international debtor to an international creditor. Now, US and its citizens owned more overseas assets than foreign governments or citizens owned in the US.