The wake of world war

The wake of world war - The wake of world war : Trying to...

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The wake of world war : Trying to turn back the clock … November 7 th 2011 : Adjusting production creates postwar conflicts : The war was good for US, but when the people start coming back after the war- more industrial competition, the others start producing more consumers goods The US get scared from the agricultural competition after the war : there is extra commodities and the prices start to fall and this hurts American farmers and they will lose some markets US passes Emergency Tariff 1922: to help the American farmers Monetary side of things : France asking for reparation : Germans have to pay money to compensate the damages : the German fault in the war Germany loses markets , can’t pay reparations loses control over tariffs Economic collapse in Germany and unable to pay the money and they are not in control of the tariffs the winners (allies ) decide the tariffs to keep them low for Germany Britain’s payments thrown off – attempt to regain dominant creditor position leads to General Strike in 1926 British are faced with the American competition of exports and capital : the British banks and NYC banks competition The dollar is as good as gold!!! challenge for the British Raising interest rates high so they can prove the position of the pound You are slowing down your own economy and to peace time production Now it is difficult to borrow money and the result is the British economy stays flat pursuing the policy of high interest rate which leads to the General Strike You have new type of political fight : the working class can vote, the Labour party is a serious party after the war. The real working class party are in Parliament and they are not happy with the foreign economic policy Abandoning the Gold Standard : States left the gold standard during the war The US was the one country that could keep the currency pegged to gold due to the export For the European states they were very worried about the gold being taken out
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The wake of world war - The wake of world war : Trying to...

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