Economic Globalization

By amandahalabi

  • World War 1

    The major economic affect of World War 1 was an increase in industrial production. This benefited the economy because many weapons were produced and sold to use in battle and many jobs were available. Economic growth and development resulted from World War 1.
  • Period: to

    Economic globalization

  • Revolution and civil war in Russia

    Throughout russia, food and fuel shortage became common. workers rebelled demanding better wages and better working conditions. When soldiers and peasants joined the rebellion, the russian economy shut down.

  • World War 1 ends

    This affected the economy because during the war, the need for soldiers, nurses, farm and factory workers increased. This changed when the war came to an end because soldiers returned home and weapon manufacturing stopped which resulted in high unemployment rates.

  • Civil War ends with comunism party in control

    Communism was a new economic model that was supposed to get rid of class distinction. Everyone would work for the benefit and the communists controlled the government and the economy.

  • Great depression begins

    This affected the economy because there was very high unemployment, banks failed and there was no jobs, and numbers of people suffered during this time. The great depression struck drastically world wide, but first started in the U.S. when the stock market crashed and people became bankrupt.

  • World war 2 begins in europe

    World war 2 had long term and short term affects on the economy. During the war, there became an increase in agruculture, manufacturing, exports and government money spending. There was very little unemployment and women became engaged in the workforce.

  • Great depression ends

    The economy turned around when the U.S. engaged in WW2 and also after the attacks of pearl harbour. Both the people, and industry became essential because airplanes, weapons, artillery and ships were needed quickly. World War 2 ended the great depression.

  • Bretten woods conference

    This impacted the economy because it would attempt to avoid future economic disasters, such as the great depression. The bretton woods system was a system of fixed currency and exchange rates and wanted economic stability for major economic powers around the world.

  • Atomic bombing in Japan

    This impacted the economy negativley in Japan, because the two bombs that were dropped in hiroshima and Nagasaki killed large numbers of people and left many places destroyed. This lead to a shortage of people to work and produce materials, and would cost a great amount of money to rebuild the wrecked places.

  • world war 2 ends

    This impacted the economy because many people feared that the great depression would hit again due to a drop in military spending, but consumer demand increased and there became a strong economic growth. The "baby boom" also increased the number of consumers.