First World War Flashcards
How did WW1 help the economy to boom?
It eliminated any foreign competition and provided a stimulus for inventions in production, materials and advertising.
Were all Americans for being apart the war?
President Wilson took the USA into the First World War in 1917, a controversial decision. Even-though Americans tried staying out of fighting in WW1, they lent money to the allies and sold weapons to Britain and France throughout the war . This one way trade gave American industry a real boost.
What industries were taken over?
While European powers were at war, America was able to take over Europe’s trade around the world. For example, before the war, Germany had once been the worlds most successful chemical industry. By the end of the war, the USA had far outstripped Germany in the supply of chemical products
What innovations were created during the war?
Explosives manufacture during the war also stimulated a range of by-products which became new American industries in their own right. Plastics and other new materials were produced. Even Plastic surgery was innovated In light of the number facial disfiguration among World War I troop
How else did the war help the economy?
Between 1914 and 1918, some 3 million people were added to the military and half a million to the government. Overall, unemployment declined from 7.9 percent to 1.4 percent in this period, in part because workers were drawn in to new manufacturing jobs and because the military draft removed from many young men from the civilian labor force.
Conclusion
In conclusion, the USA economy grew both in real terms and relative terms. It managed to take over many international industries and invent new ones. When the USA joined the war, it was not in it long enough to drain its resources in the way it drained Europe’s and managed to be the leading economy during the 1920s.
