Economic strains and shortages from "summary" of Outbreak of the First World War by David Stevenson
The economic strains and shortages that pervaded Europe in the years leading up to the First World War were a result of a combination of factors. Industrial production had been steadily increasing, leading to a rise in demand for raw materials and resources. However, this increased demand was not always met with a corresponding increase in supply, leading to shortages and price hikes. Furthermore, the competition for overseas markets and colonies among the European powers had intensified, leading to economic rivalries and trade disputes. This led to protectionist policies being implemented by various countries, further exacerbating the economic strains. The arms race that was taking place among the major powers also contributed to economic strains....
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