economic impact WW1
The economic impact of First World War on the UK
The First World War saw a decline of economic production in Britain, with a major reallocation to munitions. It forced Britain to use up it is financial reserves and borrow large sums from the U.S. Shipments of American raw materials and food allowed Britain to feed itself and its army while maintaining her productivity. The essay will discuss the main effect on Britain’s economic after the First World War and how politician leaders deal with the new economic situation.
This essay will Analyses economic impact on Britain by basing on the evidence associated with the most important political events and economic transformations. According to Britain(1914-1922), In May 1926 the general strike established and it involved more than 3 million workers, the roots of the general strike lay in the structural problem of the coal industry. Demand for British coal had fallen due to intense foreign competition and the growing use of new recourse such as oil.
The human losses of the World War in Britain were enormous. Despite the huge number of men killed in the war, they included 745,000 servicemen killed and 24,000 civilians, the unemployment had stood at less than 1,800,000 at the end of 1930, but by the end of 1931 it had risen sharply to more than 2,600,000. By January 1933, more than 3,000,000 Britons were unemployed, accounting for more than 20% of the workforce. The rest of the 1930s saw a moderate economic recovery stimulated by private housing. Unemployment fell to 10% in 1938; many people lost their jobs due closing factories as result of losing markets (www.bbc.co.uk/history).
A stated by www.bbc.co.uk/history , in 1919 Britain reduced the working hours in major industries to a 48-hour week for industrial workers. Historians have debated whether this move depressed labour productivity and contributed to the slump. Scott and Spadavecchia argue that productivity was in some ways enhanced, especially through higher
The First World War saw a decline of economic production in Britain, with a major reallocation to munitions. It forced Britain to use up it is financial reserves and borrow large sums from the U.S. Shipments of American raw materials and food allowed Britain to feed itself and its army while maintaining her productivity. The essay will discuss the main effect on Britain’s economic after the First World War and how politician leaders deal with the new economic situation.
This essay will Analyses economic impact on Britain by basing on the evidence associated with the most important political events and economic transformations. According to Britain(1914-1922), In May 1926 the general strike established and it involved more than 3 million workers, the roots of the general strike lay in the structural problem of the coal industry. Demand for British coal had fallen due to intense foreign competition and the growing use of new recourse such as oil.
The human losses of the World War in Britain were enormous. Despite the huge number of men killed in the war, they included 745,000 servicemen killed and 24,000 civilians, the unemployment had stood at less than 1,800,000 at the end of 1930, but by the end of 1931 it had risen sharply to more than 2,600,000. By January 1933, more than 3,000,000 Britons were unemployed, accounting for more than 20% of the workforce. The rest of the 1930s saw a moderate economic recovery stimulated by private housing. Unemployment fell to 10% in 1938; many people lost their jobs due closing factories as result of losing markets (www.bbc.co.uk/history).
A stated by www.bbc.co.uk/history , in 1919 Britain reduced the working hours in major industries to a 48-hour week for industrial workers. Historians have debated whether this move depressed labour productivity and contributed to the slump. Scott and Spadavecchia argue that productivity was in some ways enhanced, especially through higher