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Start of WW1
When war was declared in 1914 the ecconomy sky-rocketed. The demand for goods and weapons drove production and profit through the roof. Companies and manufacturers were making alot of money therefore the workers were also. The population had way more money then usual so spending increased. -
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Events Effecting The Worlds Economy
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Revolution and Civil War Begin in Russia
When civil war broke out in 1917 the country was devided. The Reds and the Whites. It was an odd time for companies because you had to choose what side to be on, and if you chose one side you were now an enemy of the other. Production of weapons and resources was at a high because of war but many companies were destroyed in battle. -
End of WW1
When the WW1 ended production slowed. Many soldiers returned to find their positions filled and no jobs available. Eventually everything got back on track but the war took a toll on the economy of countries that were modernized. -
Russian Civil War Ends
When the civil war ended in 1920 the communist group was in control. The years of war stressed the economy. The government had to rebuild because the economy and state of the country was really hurting. With the communists in control there was job opportunities they were focused on regaining a strong economy. -
Great Depression Starts
The Great Depression Started when stock markets crashed. Companies layed people off. Wages lowered and there was not enough production to satisfy the population. What was available was outragously priced which made it tough to survive. People could not afford to pay for big families. -
Start of WW2
Again the world was at war. Economies thrived with the start of the war. Many of the experienced workers were drafted leaving important positions open. Women stepped in and worked and kept everything going. They played an important role in the building of weapons and ammunition. -
Great Depression Ends in Many Countries
With WW2 starting the demand for products drove many hurting countries out of the depression. The worlds economies once again thrived with the war starting. More people were needed to satisfy the demand for products, pulling many countries population out of poverty. -
WW2 Spreads to Asia
When Pearl Harbour was bombed and Hong Kong was captured the war had officially spread to Asia. New technology was needed when the war spread to new climates and geography. New clothing and vechles were needed by western nations to be able to stand and fight with a chance. More troops were needed so more jobs were left open and filled by women and young boys. -
Bretton Woods Conference takes place
Five years into the war nations met to discuss post war action and what the state of the economies will be in. -
WW2 Ends with the Surrender of Germany and Japan
When Germany and Japan surrendered in 1945 the war was finally over after 6 years. Many lives were lost and when soldiers returned home everyone celebrated. the economy was in okay shape and there was jobs open for everyone. Soldiers returned to normal ways of life and steadied the worlds economy and trade.