The Ending Effects Of The Great War

The lasting effects of the Great War can be seen everywhere; from the conflict in the Middle East, to the shaping of Eastern Europe today. The cause of the Great War can not be boiled down to one singular factor, however, all of the events widely cited as the cause for the war when brought together which encompass the cause for the outbreak in 1914. “On July 28, 1914 Austria-Hungary declared war on Serbia. Within a week, Russia, Belgium, France, Great Britain and Serbia had lined up against Austria-Hungary and Germany, and World War I had begun.” (SV) When the war first broke out Americans remained isolationists and President Woodrow Wilson deemed that America remain neutral to the war, “He kept us out of the war became Wilsons campaign slogan
The idea of credit is first introduced to society, seen almost as a miracle by many Americans struggling to pay bills. Banks begin lending out credit to American businesses and families with almost no regulations and no rules. Homes, cars, furniture and even stocks began being bought on credit. This also leads to a huge shift in the way the average American views spending money. With so much money available, needs become wants and consumerism is born in America. Instead of using your money to buy necessities, consumers are born and begin to splurge. Corporations take full advantage of this and begin overproducing in order to fit the demand for all the goods these new consumers want. However, at some point, the money starts to run out and the debt begins to accumulate. These commercial items begin sitting in warehouses, and many workers begin to lose their jobs as a result. The demand for goods decreases even more without a steady income to support even their basic necessities, and Americans begin cutting spending. In order for a raw capitalist nation to run, the citizens need to spend money and keep their demand either constant or increasing. Without this spending, businesses begin to fail just as they do in late 1920s. Construction projects across the country are stopped, leaving ugly and unfinished projects. Massive layovers begin to occur, equating to a massive 25% unemployment rate. These same people turn back to the banks for more money, only to realize they too have no money. Almost all banks, except for J.P. Morgans, go out of businesses and destroy the economy. In addition, corporations are discovered to be overstating their value are discovered to also have no money. This is what is known as the Great Depression. As a result, most Americans are left without a job and many corporations fail miserably. In 1929, Carnegie Steel is bought by Morgan only to be put out of business in