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What were the major changes in the international economy after 1914? Why did the gold standard work well before 1914 but not in the interwar period?
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What were the major changes in the international economy after 1914? Why did the gold standard work well before 1914 but not in the interwar period? "Trade is the language which prevents people from cutting each other's throat" -- Bruce Chatwin "War is hell" -- William Tecumseh Sherman Conventional wisdom in economic history suggests that conflict between countries can be extremely disruptive of economic activity, especially international trade The world war changed the course of the international economy. The damage of life and physical resources all over the world were unprecedented in history. The economic and political boundaries all over the world were altered. The years before 1914 are often described as the Golden Age which the war had destroyed. They war had an immediate impact on the world economy. The gold standard, which had been the backbone of the world economy for many years, had to be suspended as huge amounts...
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